A new proposal to the state Public Service Commission would reduce Florida Power & Light customer bills because of lower-than-expected fuel costs.
Florida Power & Light (FPL) filed the proposal that they claimed would save consumers roughly $662 million. FPL argues that if passed, savings would be reflected in customer bills as early as May and continue through the end of the year.
The proposal stems from lower-than-expected costs for natural gas, which is used heavily to fuel power plants in Florida. The commission stated, "“FPL’s 2024 fuel-related revenue requirement has decreased substantially since the filing of its last cost projection in September 2023."
The commission convenes once a year in Fall to set projected fuel costs for the following year, but the commission will hear the proposal on April 2nd, in what is called a "mid-course correction," because the costs vary significantly from 2024 projections.
FPL has two sets of rates because of a merger with the former Gulf Power. Customers in the Gulf Power's former territory located in Northwest Florida use 1,000 kilowatt hours a month and currently pay $149.89.
If the fuel-related proposal is adopted, the Northwest Florida bills will go to $135.38 this Spring. FPL customers in other parts of the state pay $135.69 for 1,000 kilowatt hours of electricity. That will go to $128.88 in April and would decrease to $121.19 in May under the proposal.
FPL has often been the face of innovation in Florida. At the end of last year FPL released their new level 3 chargers for electric cars in Port Canaveral, Florida. The new chargers at Port Canaveral will join a network of more than 100 public fast charging locations FPL offers EV drivers across the state. The news is thought to be especially significant for Brevard County, where charging stations such as these are sparse.
