State regulators approve FPL April bill adjustment; decrease proposed in May

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Mar 07, 2023, 12:19 ET

Approved April bill increase reflects hurricane recovery and fuel costs
FPL proposes bill decrease in May to reflect projected fuel savings
Typical 1,000-kWh residential bill to remain below national average

JUNO BEACH, Fla., March 7, 2023 /PRNewswire/ -- The Florida Public Service Commission (PSC) today unanimously approved adjustments to Florida Power & Light Company customer bills beginning in April. The approved rate changes balance unrecovered fuel and storm costs from 2022 and a recent decline in projected 2023 fuel costs.

"I know our customers have big expectations for their electric provider," said FPL President and CEO Armando Pimentel. "They count on Florida Power & Light to keep the lights on and their home cool. They count on us to maintain a durable energy grid that stands up to severe weather and, when a storm does cause outages, they also count on us to restore power safely and as quickly as possible. Most importantly, they count on us to serve them while keeping their electric bill as low as possible."

While today's PSC decision will increase bills in April, FPL has proposed lowering bills in May to reflect $379 million in additional projected fuel savings in 2023. The company has asked state regulators to consider that proposal next month.

FPL typical 1,000-kWh residential customer bill
FPL		FPL Northwest
April 2023 (approved)	May 2023 (proposed)	April 2023 (approved)	May 2023 (proposed)
$144.38	$139.95	$163.30	$158.86

Customers will pay a temporary storm surcharge for 12 months beginning in April. State regulators also approved spreading all hurricane costs from past hurricanes throughout FPL's entire service area. As a result, the monthly storm charge on a typical 1,000-kWh bill in Northwest Florida will benefit by $9.54.

Even with the approved increase in April, FPL's typical residential bill in peninsular Florida will remain well below the national average and the lowest among Florida's large utilities, which collectively serve more than 75% of the state's population.

FPL offers energy-saving tips to customers
With the bill increase taking effect in April, FPL encourages customers to take steps to lower their bills by monitoring energy use and making their homes more energy efficient. For example:

Depending on the season, customers should cool their home at 78° or warmer or heat their home at 68° or cooler. Each degree customers lower or increase the temperature on their thermostat can reduce their bill by 5% a month for heating or cooling costs.
Customers can clean the lint filter in their dryer before each load to minimize drying time.
Turn off ceiling fans and lights in unoccupied rooms.
View daily, weekly and monthly energy use by using the FPL Mobile App, which is available on the Apple App store, Google Play or by texting "App" to MyFPL (69375).
Customers can activate the free FPL Energy Manager tool to monitor how their home is using energy and identify ways to save.
For more helpful tips, customers can visit 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 5.8 million accounts, or more than 12 million people. FPL operates one of the 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 in 2022 as one of the most trusted U.S. electric utilities by Escalent 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 2022 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. 