Business
FPL rate settlement reduces request by nearly a third, limits average annual bill increases to 2%, maintains consumer protections
Florida Power & Light Company and 10 key stakeholder groups filed a comprehensive four-year rate settlement agreement with state regulators today that significantly reduces FPL's original revenue request while keeping residential customer bills well below the projected national average through the end of the decade.
About this update from Nextera Energy, Inc.
[{"type":"text","content":"JUNO BEACH, Fla., Aug. 20, 2025 /PRNewswire/ -- Florida Power & Light Company and 10 key stakeholder groups filed a comprehensive four-year rate settlement agreement with state regulators today that significantly reduces FPL's original revenue request while keeping residential customer bills well below the projected national average through the end of the decade.","length":373,"tagName":"p"},{"type":"image","alt":"PR NEWSWIRE (PRNewsfoto/Florida Power & Light Company)","displaySize":"","headline":null,"caption":"PR NEWSWIRE (PRNewsfoto/Florida Power & Light Company)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":350,"url":"https://media.zenfs.com/en/prnewswire.com/e280c8e7abc7636cdd4a5b440d2b3c03"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/R3rcvuSovGOI4sheYm0scw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTYxNztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/e280c8e7abc7636cdd4a5b440d2b3c03","width":400,"height":350}},"href":"https://mma.prnewswire.com/media/322600/florida_power___light_company_logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The agreement, which is subject to Florida Public Service Commission (PSC) approval, cuts FPL's four-year revenue request by approximately 30% – shaving hundreds of millions of dollars from its initial proposal while still supporting continued investments in grid infrastructure and new generation to reliably serve Florida's growth.","length":341,"tagName":"p"},{"type":"text","content":"A word from FPL President and CEO Armando Pimentel: "This settlement agreement is a win for all FPL customers and a win for Florida. It supports our ongoing commitment to meet the resiliency and reliability needs of our fast-growing state, while keeping customer bills well below the national average. We expect the typical 1,000-kWh residential customer bill will increase next year by about $3.79 a month. Even with the proposed increase, FPL's bill would be about 20% lower than it was 20 years prior when adjusted for inflation."","length":547,"tagName":"p"},{"type":"text","content":"Substantial reductions from original request: The settlement significantly scales back FPL's initial rate request:","length":118,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"2026: Base rate revenue ...