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

Rhea-AI Summary

The Florida Public Service Commission has approved an increase in customer bills for Florida Power & Light Company (FPL) starting in April 2023, reflecting hurricane recovery and fuel costs. Despite this increase, FPL has proposed a decrease in bills for May, projecting savings of $379 million in fuel costs. The typical residential bill for 1,000 kWh will remain below the national average, with the April bill at $144.38 and a proposed decrease to $139.95 in May. Customers will also incur a temporary storm surcharge for 12 months, benefiting the Northwest Florida region by $9.54 per month.

Positive

• FPL proposes a bill decrease in May with projected fuel savings of $379 million.
• Typical residential bills will remain below the national average and the lowest among Florida's large utilities.
• FPL recognized for reliability and customer trust.

Negative

• Customers face temporary bill increases in April due to hurricane recovery and fuel costs.
• Implementation of a storm surcharge for 12 months.

• 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. 

 

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SOURCE Florida Power & Light Company

FAQ

What is the new bill rate for Florida Power & Light customers in April 2023?

The approved bill rate for typical 1,000-kWh residential customers will be $144.38 in April 2023.

What proposed changes in billing can Florida Power & Light customers expect in May 2023?

FPL has proposed a decrease in the bill to $139.95 in May 2023, reflecting projected fuel savings.

How much will the storm surcharge cost FPL customers starting in April 2023?

Customers will pay a temporary storm surcharge for 12 months starting in April 2023.

How will the bill adjustments affect Florida Power & Light's typical customer bill in Northwest Florida?

In Northwest Florida, the monthly storm charge will benefit customers by $9.54.

How does FPL's typical residential bill compare to the national average?

Even with the increase, FPL's typical residential bill will remain well below the national average.