The Florida Public Service Commission will hold a hearing in October on a proposed base-rate increase settlement for Florida Power & Light (FPL).
Under the agreement, FPL reduced its 2026 base rate revenue request from the $1.55 billion it had presented in February by 39%, to $945 million. The base rate revenue request for 2027 was reduced by 17%, from $927 million to $766 million.
The settlement would cap the typical residential bill increase at 13 cents a day—or $3.79 a month—starting in 2026. Under the plan, a 1,000-kWh bill would rise from $134.14 today to $137.93 in January 2026, reaching $148 by the end of 2029.
The settlement drew sharp criticism from opponents. AARP Florida blasted it as a "closed-door deal" that leaves residential customers—especially seniors on fixed incomes—with little voice.