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FLORIDA - Florida Power & Light has submitted a four-year rate plan to the Florida Public Service Commission requesting approval to raise base electricity rates for approximately 12 million customers beginning in 2026.
The revised proposal, reduced from an earlier $9.8 billion request, is expected to generate nearly $6.9 billion in additional revenue over the four-year period.
FPL states the increase is intended to strengthen the state’s electric grid, build new power plants, replace aging infrastructure, and invest in technology to reduce outages.
The company estimates the typical residential customer would see an increase of about $2.50 per month, equivalent to less than nine cents per day.
FPL executives note the state’s rapid population growth and vulnerability to severe weather as reasons for continued investment in the power system.
Consumer advocacy groups and public representatives have voiced opposition to the plan.
The Office of Public Counsel, which represents utility customers, alleges that the proposal would direct an excessive portion of customer payments to shareholder profits and taxes, estimating that 50 cents of every dollar would go toward these costs.
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AARP Florida also raised concerns that the rate increase could disproportionately impact seniors and households already facing high living expenses.
Critics warn that approval could set a precedent for similar requests from other utility companies.
The Florida Public Service Commission has opened hearings to review the plan, including expert testimony and public comment sessions over a two-week period.
A decision on the proposed rates is expected later this fall, with any approved changes scheduled to take effect on January 1st, 2026.
Residents are encouraged to participate in the hearings to provide input on the proposed increases.