Florida consumers to be socked with huge jump in electric bills thanks to a deal with Florida Power & Light
News and Views for thoughtful Floridians
If you are a customer of Florida Power & Light, you may soon be paying hundreds of dollars more on your electric bill each year because of a massive rate increase the utility was just granted by state government.
Florida’s largest electric utility, serving 12 million customers, will see its revenues grow by more than $1.5 billion over the next two years as a result — $945 million in 2026 and $766 million in 2027.
During the course of the new agreement between FP&L and the state’s Public Service Commission—which runs through 2029—some Floridians will see their average bills increase from $136.64 a month to nearly $150 a month.
The agreement means FP&L will earn an eye-popping 10.95 percent return on investment, among the highest in the nation.
Consumer groups are not taking this lying down.
“Four years ago, FPL was awarded one of the largest rate hikes in U.S. history. Today, they’ve made history again at nearly double that amount. This shameful decision illustrates why our state energy regulators cannot be trusted to ensure that families have reliable, affordable energy,” said Food & Water Watch Senior Florida Organizer Brooke Ward.
“People are not asking for diamonds or gold — while greedy utilities keep raking in record profits, regular Floridians want to be able to afford running their air conditioners and heaters. The legislature must pass affordable energy legislation this session to ensure fair electricity prices.”
So, what is this board, the Public Service Commission, all about and how does it arrive at decisions like this?
For one thing, the board fs appointed by Gov. Ron DeSantis. For another, this decision runs roughshod over the recommendation of the state’s Office of Public Counsel, which argued for lower rates.
And the PSC doesn’t just regulate pricing for Florida Power & Light. Under its umbrella are also Duke Energy Florida, Tampa Electric Company, and Florida Public Utilities Company.
So, while FP&L may serve the largest number of customers in the state, everyone else in Florida also has a stake in how the Public Service Commission regulates these monopolies.
Investigative reporter Jason Garcia reports:
It is the largest electric rate increase in American history, according to opponents who have vowed to fight it in court.
“Based on our research, by total cumulative revenue increase, it is the largest rate increase in United States history for a vertically integrated electric utility,” said Bradley Marshall, an attorney with the environmental group Earthjustice.
I’ve posted a link on the Tropic Press homepage today to Jason Garcia’s detailed examination of this issue. It’s well worth the read. Here’s the link:
J.C. Bruce, journalist and author, is the founder of Tropic Press. He holds dual citizenship in the United States of America and his native Florida. Forward this email to your friends. They will love you for it.
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Pure greed!! And cronyism! We need to have a people’s voice in the state government..Time to turn off FPL’s monopoly and represent THE PEOPLE
Duke just shafted me again last week. My bill says $178 but I continually get text messages and emails stating my rates have increased. Now it's up to $244 a month which is nearly a car payment. By next summer I'm going to be sitting here in my house sweating my @$$ off! I called to complain and all I got was, "my rates went up too" - I don't know about everyone else but I really don't care about what our customer service reps pay, I care about the shady behavior of my ONLY electric company. Why are they allowed to be monopolies? There's no competition so they just do what they want and gouge the crap out of consumers. We are paying for all of this data center/AI technology these tech giants are shoving down our throats - whether we want to or not.