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FLORIDA - Florida Power & Light (FPL), the nation’s largest utility, has proposed significant increases to its electric rates, which could result in higher monthly bills for customers in the coming years.
The utility filed documents with the Florida Public Service Commission (PSC) on Friday, requesting approval to raise its rates due to inflation, growing infrastructure needs, and an expanding customer base.
FPL anticipates adding 335,000 new customers by 2029, necessitating updates to its infrastructure.
Under the proposed plan, FPL aims to generate $1.545 billion in revenue by 2026 and $927 million the following year.
These increases include additional costs for solar energy and battery storage that will be passed on to consumers.
For the average customer, the proposed increase would raise a $134.14 monthly bill in 2025 to $142.37 in 2026, a difference of $8.23.
By 2029, the bill could reach $151.99, marking a total increase of approximately $18 over the current rate.
Already, many residents are feeling the impact of rising utility costs.
In Sanford, one customer reported a spike in their electric bill to nearly $300, compared to the usual $175.
With inflation also affecting food and rent prices, families are struggling to cover basic needs.
Local organizations like the Salvation Army have seen a rise in demand for assistance.
FPL's proposal is under review by the PSC, with hearings set to take place before any changes are finalized.
If approved, the new rates could begin affecting customers soon.