Florida Power & Light proposes $10 billion rate hike

Florida Power & Light is proposing a nearly $10 billion rate hike for electricity over the next four years.

Florida faces historic utility rate hike proposal

Florida Power & Light Company, the state's largest utility provider, has proposed an unprecedented rate increase of nearly $10 billion over the next four years. This proposal, filed in February with the Florida Public Service Commission, includes base rate hikes planned for 2026 and 2027, along with further increases planned for 2028 and 2029. The utility argues that these increases are necessary to ensure grid reliability and support investments in solar generation and battery storage. Despite support from the utility, environmental groups express concern that this increase will place a heavy financial burden on Floridians, especially low-income households, at a time of rising costs.

The proposed rate hike from Florida Power & Light is not merely a financial burden; it marks a significant test of the state's regulatory framework and its commitment to consumer protection. Environmental advocates and watchdog groups are drawing attention to the potential negative impact on vulnerable populations, arguing that the proposal largely serves the interests of shareholders rather than those of customers. The upcoming hearings will be a crucial stage where the voices of everyday Floridians must be heard amid powerful corporate lobbying.

Highlights

The outcome of these hearings could reshape Florida's energy landscape for years to come.