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Florida Power & Light Applies for Back-to-Back Rate Decreases in April, and May

Florida - Wednesday March 13, 2024: Florida Power & Light Company customers could see back-to-back rate decreases after the company today asked state regulators to approve a reduction beginning in May to reflect lower fuel prices. Rates are already scheduled to decrease in April.

If the Florida Public Service Commission (PSC) approves FPL's request, a typical 1,000-kWh residential customer bill would be more than $14 lower in May than it is today. Individual bills vary based on customers' energy usage.

Florida Power & Light Company
Florida Power & Light Company

Approved April Rate Decrease

Rates are going down in April because a temporary surcharge to recover restoration costs from past hurricanes ends March 31. That means a typical 1,000-kWh residential customer bill will fall nearly $7.

Proposed May Rate Decrease

FPL asked the PSC to reduce the fuel charge on customer bills to reflect lower projected prices for natural gas, which is used in FPL's power plants to generate electricity. If the PSC approves, a typical 1,000-kWh residential customer bill would fall about $7.70 beginning in May.

Rates + usage = monthly bill: A customer's monthly bill is determined by rates approved by the Florida Public Service Commission and by the amount of electricity the customer uses. Bills tend to increase in warmer months as customers use more air conditioning. FPL offers tools and tips to reduce energy consumption

"While we are pleased with the possibility of back-to-back rate reductions, we also encourage customers to take advantage of tools and tips from our energy experts to help customers reduce their energy usage and make their bills even lower," aid FPL President and CEO Armando Pimentel in a news release, adding, "we are committed to providing reliable energy and keeping customer bills as low as possible."