Florida Power & Light submits proposal for base-rate increase

The Public Service Commission has 2021 to decide if the rise in price is for the best

Florida Power & Light submits proposal for base-rate increase
In the filing, FPL said its monthly customer bills would remain below the national average if the proposal is approved. (Source: Pexels.com)

TALLAHASSEE, Fla. (WWSB) - Suncoast residents may be surprised to see their utility bill go up next year. But those conversations are already underway.

Florida Power & Light took the first step this week, proposing an increase the in the amount customers pay for power. The proposal itself outlines a base rate increase over the course of four years. A $1.1 billion increase in 2022, a $615 million increase in 2023, a $140 million increase in 2024 and a $140 million increase in 2025.

“This financial stability provides the necessary platform for the company to continue to meet the fundamentals of day-to-day operations and customer service,” read the filing signed by FPL President and CEO Eric Silagy. It also outlines how the increase would benefit their capabilities in storm coverage, solar energy projects, preventing outages and address the growing customer base.

“Multi-year rate plans have worked exceptionally well in meeting those objectives.”

In March, FPL will submit a more detailed outline that outlines how customers’ utility bills will be affected. In the coming months, after analysis and hearings, It’s the Public Service Commission that has the final say on the changes.

“We are mindful of the potential impact of any increase,” read the filing, “and, thus, continue to work aggressively to find ways to deliver better, more efficient and more reliable service to ensure we are providing exceptional value to our customers.”

Copyright 2021 WWSB. All rights reserved.