FPL Proposes Lower 2027 Rate

Article reposted with permission from The News Service of Florida.

Even with a requested increase for Hurricane Isaias restoration efforts, Florida Power & Light has proposed a slightly lower average monthly bill than previously approved for next year.

The Juno Beach-based utility announced Friday it is asking state regulators that the rate hike approved last year as part of a four-year settlement be set at $141.87 a month on the typical residential customer bill beginning in January 2027. That would be $1.18 less than the rate approved as part of the 2025 settlement with the state Public Service Commission. The rate is based on the use of 1,000 kilowatt hours of electricity a month.

“Now, our modern generation fleet and continued focus on efficiency are helping keep 2027 bills lower than we projected last year, even as we recover the cost of responding to the hurricane,” FPL President and CEO Scott Bores said in a released statement.

FPL is the largest utility in the state, providing service in 41 counties to nearly 6.13 million homes and businesses, or about 12 million people.

FPL attributed the reduction to “smart long-term investments, disciplined operations and a modern, fuel-efficient generation fleet, along with lower projected natural gas costs.”

When the settlement was reached, the Office of Public Counsel and its allies said cumulative increases over four years could reach about $6.9 billion over previous rates. At the time the settlement was finalized in October 2025, it was expected to lead to base-rate increases of $945 million in 2026 and $705 million in 2027.

According to FPL, the new projected reduction should offset a proposed temporary surcharge of $3.48 a month per 1,000-kWh of use needed to recover costs for power restoration from Hurricane Isaias and to replenish the company’s storm reserve.

FPL contends the storm that made landfall on the western Panhandle near Destin as a Category 2 system on Oct. 9 knocked out power to about 84 percent of the company’s northwest Florida customers.

The company states it mobilized about 17,000 workers who restored power where possible within four days.

“FPL’s investments in smart-grid technology helped avoid approximately 138,000 outages during the hurricane,” the company stated. “Underground neighborhood power lines performed about 14 times better than overhead lines and FPL’s ongoing forensic investigation has not identified a single hardened pole that failed during Isaias.”

If approved by the PSC, the request for Isaias’ recovery would be applied to monthly bills from January through December 2027.