Latest news with #FloridaPublicServiceCommission
CBS News
12-03-2025
- Business
- CBS News
Senate committee backs changes to Florida Public Service Commission
A Senate committee Wednesday approved a bill that would expand the Florida Public Service Commission from five to seven members and place additional requirements on the commission in utility rate cases. The Senate Regulated Industries Committee voted 5-2 to approve the bill (SB 354), sponsored by Republican Sen. Don Gaetz. In part, the bill would expand the utility regulatory commission from five to seven members and require that one member be a certified public accountant and another be a chartered financial analyst. The bill also would add requirements related to commission decisions on how much money utilities can earn through what is known as a return on equity. Zayne Smith, senior director of government relations for AARP Florida, told the committee that the bill comes after the commission has approved high returns on equity, which increases costs for customers. "This is a chance to rein that in," Smith said.
Yahoo
01-03-2025
- Business
- Yahoo
Florida PSC reviews potential electricity rate hike proposal
BAY COUNTY, Fla. (WMBB) – Most of you can expect another rate increase for electricity. Florida Power & Light Company submitted a new rate schedule to the Florida Public Service Commission on Friday. FP&L's current rate agreement is set to expire at the end of this year. This new proposed schedule would cover the 4-year period from January 2026 through December 2029. If the public service commission approves the proposal, here's how it will affect your bill. Right now, the average bill for a customer that uses 1,000 kilowatt hours per month is Panhandle $143.60. Walton County hosting Hazmat Collection Day In 2026, that rate would go to $147.10 In 2027, the price would jump to $148.29. It will go up by almost $2 in 2028 and more than $3 a month in 2029. Former Gulf Power customers in the Panhandle have been paying more than the rest of the state. That would continue in 2026, but in 2027, all customers would begin paying the same rates. Friday's filing begins an extensive public review process. The public service commission will schedule hearings and provide other opportunities for customer input before making any decisions. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
29-01-2025
- Business
- Yahoo
Changes on your FPL bill? See the explanation and rate increase power company is asking for
Florida Power & Light customers are seeing a "temporary hurricane restoration surcharge" on their 2025 bills. And the company will be seeking a rate increase to run from 2026 to 2029 to help "diversify the company's electricity generation mix." The surcharge helps cover the costs from three hurricanes that hit Florida in 2024, the company said. Here's what you should know. The Florida Public Service Commission approved FPL's request for a temporary charge — for each month in 2025 — to cover costs from 2024 Hurricanes Debby, Helene and Milton. The charge also will help FPL replenish funds used after Hurricane Idalia in 2023, FPL said on its website. The charge adds $12.02 to a typical 1,000- kilowatt residential bill from January to December this year. Rates will increase slightly in February to pay for solar energy centers coming online. Here's what a typical bill will look like starting in February for a typical residential customer using 1,000 kilowatts: Current: $133.99 February 2025: $134.14 At the end of 2024, FPL notified the Public Service Commission it plans to file a formal request to set new rates once its current base rate agreement end at the end of this year. A detailed four-year plan is expected to be submitted by the company Feb. 28. Once submitted, there is a public review process that also includes input from customers before a decision is made by the Public Service Commission. The new rates, if approved, would be in effect from 2026 through 2029. FPL said the "new rates would enable FPL to continue to diversify the company's electricity generation mix; protect customers from fuel price volatility; and continue to deliver some of the country's most reliable electricity to its 6 million customers, all while keeping bills as low as possible." FPL estimated the new rates would increase a typical residential customer bill by an average annual rate of approximately 2.5%. "Customers will be able to calculate potential adjustments to their bill after FPL files its formal plan," the company's website said. In its letter to the Florida Public Service Commission, FPL said: "The last four years were unlike any other in our recent history. Over this period, we experienced meaningful and unanticipated increases in inflation and interest rates, which rose by 21% and over 180%, respectively. "This, combined with significant migration to Florida, presented new challenges for FPL to navigate." FPL is a subsidiary of June Beach-based NextEra Energy Inc. FPL has about 6 million accounts, serving more than 12 million people in 43 of Florida's 67 counties, the company said. "FPL has added about 275,000 customer accounts since 2021 (current rates were approved in a plan covering 2021-2025) and expects to add about 330,000 more through the end of 2029, which will require significant new generating capacity and distribution infrastructure to meet demand in one of America's fastest-growing states," the company said on its website. FPL is "America's largest electric utility ... and serves more customers and sells more power than any other utility," the company said. This article originally appeared on Treasure Coast Newspapers: FPL hurricane surcharge, rate increase
