Overview
- The Public Service Commission voted Nov. 20 to approve a settlement that raises FPL base revenues by $945 million in 2026 and $705 million in 2027, with additional collections in 2028–2029 for solar and battery projects, taking effect Jan. 1, 2026.
- A typical residential customer using 1,000 kWh in most of Florida will see a $2.50 monthly increase in 2026 to $136.64, while Northwest Florida customers will see a decrease to $141.36 before later years’ adjustments.
- The agreement sets FPL’s allowed return on equity at 10.95%, a central point of contention for consumer advocates and the state’s Office of Public Counsel.
- FPL negotiated the deal with a coalition including the Florida Industrial Power Users Group, the Florida Retail Federation, Walmart and others; the Office of Public Counsel opposed the settlement and had proposed lower increases and a 10.6% ROE.
- Commissioners acknowledged concerns but deemed the pact in the public interest; opponents signaled appeals and the PSC ruled the Southern Alliance for Clean Energy lacked standing in the case.