Florida Regulators Approve Four-Year Rate Agreement from Florida Power & Light Company

The agreement has set rates for 2026 through 2029, effective January 01, 2026; FPL's typical 1,000-kWh residential customer bill in most of Florida will increase by $2.50 a month in 2026.

Nov. 24, 2025

2 min read

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The Florida Public Service Commission (PSC) has approved a four-year rate agreement to help Florida Power & Light Company (FPL) make necessary investments in the grid to power Florida's growth as well as keep customer bills below the national average.

The agreement, developed in collaboration with a broad coalition of customer groups, has set rates for 2026 through 2029, effective January 01, 2026.

For 2026, FPL's typical 1,000-kWh residential customer bill in most of Florida will increase by $2.50 a month, or about 2%, from the current $134.14 to $136.64. In Northwest Florida, the typical residential customer bill will remain flat, going from the current $143.60 to $141.36 in 2026.

Highlights of the approved settlement:

Keeping bills low: The typical 1,000-kWh residential customer bill in 2026 will be about 20% lower than it was 20 years earlier when adjusted for inflation. FPL bills are below the national average for more than a decade and are projected to remain so through 2029.
Serving a growing state: With FPL expecting to add 335,000 new customers by the end of the decade, the approved agreement will help FPL to build the new power generation and battery storage needed to continue providing reliable, low-cost electricity.
Delivering reliable service: FPL's reliability is 59% better than the national average. The agreement will help continued investments in smart grid technology and other measures to help automatically restore and prevent customer outages.

FPL's current four-year rate agreement is expected to conclude at the end of 2025.

The rate-setting process took about 11 months. FPL submitted more than 70,000 pages of testimony, exhibits and discovery materials and answered more than 2,000 inquiries from PSC staff and intervening parties.

FPL participated in 10 public hearings around the state in May and June, with more than 400 customers weighing in. FPL witnesses joined in 37 depositions and nine days of technical hearings in October