The Florida Public Service Commission (FPSC) has approved a settlement establishing the final amount Florida Power & Light (FPL) can recover for restoring electric service following Hurricanes Debby, Helene and Milton, reducing the utility's approved recovery below the amount initially estimated.

Under the agreement between FPL and the Florida Office of Public Counsel, the utility will recover approximately $1.125 billion in storm restoration costs, compared with the $1.2 billion estimate used when the commission approved a temporary storm recovery charge in December 2024.

The approved amount includes:

• $88.3 million for Hurricane Debby
• $167.6 million for Hurricane Helene
• $774.4 million for Hurricane Milton

The temporary storm recovery charge remained on customer bills from Jan. 1 through Dec. 31, 2025, while the commission completed its prudence review of the restoration expenses.

Because the final approved amount is lower than the amount collected through the temporary charge, customers will receive a one-month reduction in base rates. The refund is currently estimated at approximately $80 million, plus applicable interest, reflecting the over-recovery.

"Florida's electric utilities play a critical role in restoring power after major storms," FPSC Chairman Mike Smith said in a statement. "Maintaining a reliable and resilient electric grid requires continued investment, and the Commission's review helps ensure customers pay only the reasonable and necessary costs of restoring service while supporting a reliable electric system for all Floridians."

Hurricane Milton accounted for the largest share of the approved recovery amount at $774.4 million, following the storm's widespread impacts across Florida in October 2024. Combined with Hurricanes Debby and Helene, the three storms made the 2024 Atlantic hurricane season one of the costliest for electric utilities operating in the state.

FPL serves approximately 6 million customer accounts across 43 Florida counties, representing roughly 12 million residents.