JUNO BEACH, Fla. — Florida Power & Light customers' bills will likely keep going up the next few years.
FPL has submitted a four-year rate hike request for 2026 to 2029 to the Florida Public Service Commission (PSC).
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According to FPL, residential growth and the need to diversify methods of energy generation are two big reasons for the increase. "FPL has added about 275,000 customers since 2021 and expects to add about 335,000 more through the end of 2029," the proposal states.
FPL tells WPTV the increase would add up to about $9 billion over the next four years.
The company estimates that a current monthly residential bill of $134.14 for a customer in Peninsular Florida would rise to roughly $142.37 in 2026.
FPL claims that even with the rate adjustment, residential bills will still be lower than the national average. They say that, adjusting for inflation, a typical 1,000-kWh residential bill in January 2026 would still be 20% lower than it was in 2006.
This comes after FPL previously announced a request for new rates after the current rate agreement ends in December 2025.
In a statement from FPL President and CEO Armando Pimentel, he says: "The balanced plan we submitted to the PSC would enable FPL to continue to make smart investments in the grid and in new generation resources to benefit our customers and to power our fast-growing state."
The proposal also notes that "since FPL last filed to adjust base rates in 2021, the cost of labor has increased by nearly 16%, wires and cables 30%, utility poles 49% and transformers 101% on average."
Consumer
Why FPL is asking the state to raise your electric bill
Customers are also seeing higher bills in 2025 because of a temporary surcharge, due to the 2024 hurricane season.
The proposal will now go through a public review process before state regulators decide on the rate increase.
