FPL gets green light to reduce rates for the second consecutive month

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Apr 02, 2024, 09:58 ET

Typical 1,000-kWh residential bill will be more than $14 lower in May than it was in March.
Typical 1,000-kWh residential bill in Northwest Florida in May will be the lowest in nearly five years.

JUNO BEACH, Fla., April 2, 2024 /PRNewswire/ -- Florida Power & Light Company customers will see a second consecutive month of rate decreases after state regulators today unanimously approved the company's request to reduce fuel charges on bills beginning in May.

As a result of today's vote by the Florida Public Service Commission (PSC), a typical 1,000-kWh residential customer bill will be more than $14 lower in May than it was in March. Individual bills vary based on customers' energy usage.

FPL rates to decrease again in May due to lower fuel costs.

April rate decrease: FPL customers began seeing lower rates this month because a temporary surcharge to recover restoration costs from past hurricanes ended March 31. That reduced a typical 1,000-kWh residential customer bill by nearly $7.

Approved May rate decrease: The PSC approved FPL's request to reduce the fuel charge on customer bills to reflect lower prices for natural gas used at some FPL power plants to generate electricity. That means a typical 1,000-kWh residential customer bill will fall about $7.70 beginning in May.

A word from FPL President and CEO Armando Pimentel: "We remain committed to providing reliable energy and keeping customer bills as low as possible. Back-to-back rate reductions are good news for customers. As ever, but especially as the days get warmer, we encourage customers to make their bills even lower by taking advantage of tools and tips from our energy experts to help reduce energy usage."

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 at FPL.com/WaysToSave.

Florida Power & Light Company
As America's largest electric utility, Florida Power & Light Company serves more customers and sells more power than any other utility, providing clean, affordable, reliable electricity to approximately 5.9 million accounts, or more than 12 million people. FPL operates one of the most fuel efficient and cleanest power generation fleets in the U.S. and in 2022 won the ReliabilityOne® National Reliability Award for the seventh time in the last eight years. The company was also recognized by Escalent in 2022 as one of the most trusted U.S. electric utilities for the ninth consecutive year. FPL is a subsidiary of Juno Beach, Florida-based NextEra Energy, Inc. (NYSE: NEE), a clean energy company widely recognized for its efforts in sustainability, corporate responsibility, ethics and compliance, and diversity. NextEra Energy is ranked No. 1 in the electric and gas utilities industry in Fortune's 2023 list of "World's Most Admired Companies" and recognized on Fortune's 2021 list of companies that "Change the World." NextEra Energy is also the parent company of NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world's largest generator of renewable energy from the wind and sun and a world leader in battery storage. For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com.

SOURCE Florida Power & Light Company