FP&L Rejects Rate Settlement

Florida Power & Light apparently rejected a rate settlement on Tuesday, proposed by Florida’s Office of Public Counsel and several advocacy groups.

FP&L is asking for a base rate increase of $945 million in 2026 and $766 million in 2027.

The utility giant also would collect additional amounts in 2028 and 2029 for solar-energy and battery-storage projects.

The Office of Public Counsel’s proposal slashes FP&L’s request nearly in half. Even then, opponents say it would still be the largest utility rate hike in United States history at over $5 billion.

The Florida Public Service Commission will hold a public hearing in October on FP&L’s proposed rate hike.

Commission Chairman Mike La Rosa has set aside the weeks of Oct. 6 and Oct. 13 for testimony.