FPL Reaches Proposed Settlement Agreement for 2022-2025 Rates
Posted on Aug 13th, 2021
I’m writing to provide an update regarding the four-year rate plan we filed with the Florida Public Service Commission (PSC) earlier this year. Today, FPL announced it has reached a rate settlement agreement developed jointly with Florida’s Office of Public Counsel — the state’s consumer advocate — the Florida Retail Federation, the Florida Industrial Power Users Group and the Southern Alliance for Clean Energy that would phase in new rates over the next four years, starting in 2022.
If approved by the PSC, the agreement would support continued long-term investments in infrastructure, clean energy and innovative technology while keeping FPL’s typical business customer bills below the national average through the end of 2025. The proposed agreement would accelerate the largest solar buildout in the United States, including 16 million solar panels across more than 50 new sites. In doing so, the proposed agreement would unlock a second phase of our highly popular and sold-out SolarTogether program — doubling what’s already the largest community solar program in the United States.
Read our news release or visit FPL.com/answers to learn more about the proposed settlement agreement, including how it also supports battery storage, innovative green hydrogen technology, shuttering a coal unit outside Florida, preparing for and responding to severe weather, and expanding electric vehicle infrastructure.
Your bill information
Based on the proposed settlement agreement, we project typical small and medium business customer bills will grow modestly from 2021-2025 at an average annual rate of about 2%-3%, pending PSC approval. This is well below the rate of inflation over the last 12 months and recent price increases in gasoline, housing, used cars and airfare.
As always, please don’t hesitate to contact us if you have any questions.