WEST PALM BEACH, Fla. — Florida Power & Light Company customers will see their electric rates decrease this month.
In June, the Florida Public Service Commission approved a $359 million reductionto FPL's 2023 fuel costs with $256 million reduction in fuel charges to begin in July and the remaining $103 million reduction to be applied to FPL’s 2024 fuel cost recovery factors.
There also was a $379 million decrease that began in May.
The bill reduction will go into effect from July to December with appoximately a 2.8% reduction in their monthly bill.
A typical 1,000 kilowatt per hour residential bill will be more than $8 lower in July than in April.
"We are committed to keeping bills as low as possible for our customers," Armando Pimentel, president and CEO of FPL, said. "With fuel prices moderating, we are pleased to pass along additional savings to our customers. We also encourage our customers to use FPL's free tools to save energy and make their bills even lower."
Utilities don't earn a profit on fuel charges and the fuel costs of customer bills are set for each calendar year. When a utility's costs increase or decrease by more than 10%, it must notify the PSC of any mid-course corrections that are needed.
Despite the reduction, FPL is reminding customers their bills could increase if they use more air conditioning during the hot summer months.
FPL encourages customers to use free tools and tips to save energy and money. For information visit FPL.com/waysto save.
Here are some summer tips:
- Cool your home at 78° F or higher with the thermostat fan switched to auto. For additional savings, raise your thermostat to 82° F or higher when you’re away.
- Lower the temperature on your water heater. The average household spends about $15 to $20 per month to heat water. Lowering the temperature by 10° could save from 3% to 5% of your energy costs.
- Clean or replace the A/C filter regularly to help your unit run more efficiently and trim cooling costs.
- Turn off your ceiling fan when you leave the room. A fan that runs all the time costs up to $7 a month.
- Adjust the water level on your washing machine to match the load size, and use a cold rinse whenever possible.
- Clean the lint filter in your dryer before every load to dry your clothes faster.
