Florida Power & Light Company (FPL) received approval from the Florida Public Service Commission (PSC) for a four-year rate agreement covering 2026 through 2029. The agreement, developed with input from various customer groups, will allow FPL to continue investing in its electric grid while maintaining customer bills below the national average.
For most of Florida, a typical residential customer using 1,000 kilowatt-hours per month will see their bill rise by $2.50 in 2026, increasing from $134.14 to $136.64. In Northwest Florida, the typical bill is expected to remain stable, moving from $143.60 to $141.36.
FPL President and CEO Armando Pimentel stated: “We appreciate the Florida Public Service Commission’s thorough review of our rate plan. Today’s vote enables FPL to continue to deliver some of America’s most reliable electric service and meet the needs of our fast-growing state—and we project will keep customer bills well below the national average through the end of the decade. As we begin our second century of serving Florida, approval of this plan is a win for our customers and a win for the entire state.”
According to FPL, when adjusted for inflation, a typical residential bill in 2026 will be about 20% lower than it was two decades ago. The company expects its rates to stay below the national average through at least 2029.
The agreement supports FPL’s plans to add approximately 335,000 new customers by 2030 and includes investments in new power generation and battery storage infrastructure intended to ensure reliable service as demand grows. The company reports that its reliability is currently 59% better than the national average and that ongoing investment is needed to maintain this standard.
The process leading up to approval lasted around eleven months and included submission of more than 70,000 pages of documentation and responses to over 2,000 inquiries from PSC staff and other parties involved. Public hearings were held across ten locations in May and June with participation from more than 400 customers.
New rates are set to take effect on January 1.
FPL serves over six million customer accounts—about twelve million people—across Florida using a mix of nuclear, natural gas, solar energy, and battery storage technologies. It operates as a subsidiary of NextEra Energy Inc., which is based in Juno Beach.
The company noted that statements regarding future outcomes are forward-looking and subject to risks outlined in its filings with federal regulators.
