FPL lowers estimates for monthly bill impact to roughly $2.50 next year if PSC approves rate settlement; prepares for hearings next week

JUNO BEACH, Florida - Florida Power & Light Company's proposed rate settlement agreement would result in a residential bill increase of approximately $2.50 per month next year according to the company's latest estimate, which was updated to reflect slightly lower costs for fuel and other expenses in 2026. The new bill impact is lower than FPL's original estimate in August when the settlement was filed.

Background: The proposed settlement agreement, developed jointly with a broad coalition of customer groups, would enable FPL to help build a more resilient grid for reliable service in a fast-growing state. The plan supports:

The details: Florida Public Service Commission (PSC) hearings are scheduled to begin Oct. 6 on the agreement between FPL and key stakeholders to set rates for 2026 through 2029. Under the plan, a typical 1,000-kWh residential customer bill would increase byabout $2.50 per month(less than 9 cents per day) in 2026according to FPL's latest estimate.

A word from FPL President and CEO Armando Pimentel: "Now that we have a clearer picture of fuel and other costs, the proposed settlement agreement looks even better for residential customers. We reached this settlement after listening to our customers over the last several months and compromising on some issues without compromising on our core principles of delivering reliable service while keeping bills as low as possible. We look forward to the Florida Public Service Commission's review of this plan."

Customer impact: Under the proposal, the typical 1,000-kWh residential customer bill in 2026 would be about 20% lower than it was 20 years prior when adjusted for inflation. Even when the increase is fully phased in, FPL projects its bills would remain well below the projected national average and the lowest among rate-regulated Florida utilities through 2029. Residential customers would receive the lowest increase of all types of customers.

Affordability context: The proposal amounts to an approximately 2% average annual increase for typical residential bills from 2025 through the end of the decade. For perspective, that's below the current inflation rate and far below the double-digit increases we have seen recently in other essential items like housing, property insurance and groceries. The agreement reflects input from a broad range of stakeholders, including customer advocates, and includes provisions to support those most impacted by rising costs. It also provides more funding for eligible customers who may be struggling and need help paying their bills.

Next steps: The PSC has set aside two weeks for hearings, beginning Oct. 6, to thoroughly review the settlement agreement and full proposal, along with other information pending before the PSC, before voting on new rates. If approved, new rates would take effect Jan. 1, 2026.

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