Staff at the Florida Public Service Commission recommended approval of Florida Power & Light’s request earlier this month to lower rates in May due to reduced fuel cost estimates.
If state regulators approve the change, residents using the typical 1,000 kilowatts per month will see a decrease of over $14.
Bills vary based on electricity usage, with the proposed average bill in May set at $121.19 for all areas except northwest Florida, where it will reach $135.38.
The overall savings amount to approximately $662 million, as FPL announced on March 13.
Rates are already set to decrease in April when a temporary hurricane surcharge ends. The typical residential bill for 1,000 kWh will drop by about $7.70.
“We are committed to providing reliable energy and keeping customer bills as low as possible,” said FPL President and CEO Armando Pimentel in a statement. “While we are pleased with the possibility of consecutive rate reductions, we also encourage customers to take advantage of the tools and tips from our energy experts to help them reduce their energy consumption and make their bills even lower.”
FPL serves approximately 5.9 million accounts, or more than 12 million people.
“FPL’s fuel-related revenue requirement for 2024 has decreased substantially since its last cost projection filing in September 2023,” stated the commission staff’s recommendation on Thursday.
The commission is scheduled to vote on the May change on April 2.
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