FPL seeks back-to-back rate decreases for customers in April and May
FPL seeks back-to-back rate decreases for customers in April and May
PR Newswire
JUNO BEACH, Fla., March 13, 2024
- Typical 1,000-kWh residential bill would be more than $14 lower in May than today.
- Typical 1,000-kWh residential bill in Northwest Florida in May would be the lowest in nearly five years.
JUNO BEACH, Fla., March 13, 2024 /PRNewswire/ -- Florida Power & Light Company customers could see back-to-back rate decreases after the company today asked state regulators to approve a reduction beginning in May to reflect lower fuel prices. Rates are already scheduled to decrease in April.
If the Florida Public Service Commission (PSC) approves FPL's request, a typical 1,000-kWh residential customer bill would be more than $14 lower in May than it is today. Individual bills vary based on customers' energy usage.
Approved April rate decrease: Rates are going down in April because a temporary surcharge to recover restoration costs from past hurricanes ends March 31. That means a typical 1,000-kWh residential customer bill will fall nearly $7.
Proposed May rate decrease: FPL asked the PSC to reduce the fuel charge on customer bills to reflect lower projected prices for natural gas, which is used in FPL's power plants to generate electricity. If the PSC approves, a typical 1,000-kWh residential customer bill would fall about $7.70 beginning in May.
A word from FPL President and CEO Armando Pimentel: "We are committed to providing reliable energy and keeping customer bills as low as possible. While we are pleased with the possibility of back-to-back rate reductions, we also encourage customers to take advantage of tools and tips from our energy experts to help customers reduce their energy usage and make their bills even lower."
Rates + usage = monthly bill: A customer's monthly bill is determined by rates approved by the Florida Public Service Commission and by the amount of electricity the customer uses. Bills tend to increase in warmer months as customers use more air conditioning. FPL offers tools and tips to reduce energy consumption at FPL.com/WaysToSave.
Florida Power & Light Company
As America's largest electric utility, Florida Power & Light Company serves more customers and sells more power than any other utility, providing clean, affordable, reliable electricity to approximately 5.9 million accounts, or more than 12 million people. FPL operates one of the most fuel efficient and cleanest power generation fleets in the U.S. and in 2022 won the ReliabilityOne® National Reliability Award for the seventh time in the last eight years. The company was also recognized by Escalent in 2022 as one of the most trusted U.S. electric utilities for the ninth consecutive year. FPL is a subsidiary of Juno Beach, Florida-based NextEra Energy, Inc. (NYSE: NEE), a clean energy company widely recognized for its efforts in sustainability, corporate responsibility, ethics and compliance, and diversity. NextEra Energy is ranked No. 1 in the electric and gas utilities industry in Fortune's 2023 list of "World's Most Admired Companies" and recognized on Fortune's 2021 list of companies that "Change the World." NextEra Energy is also the parent company of NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world's largest generator of renewable energy from the wind and sun and a world leader in battery storage. For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/fpl-seeks-back-to-back-rate-decreases-for-customers-in-april-and-may-302088042.html
SOURCE Florida Power & Light Company
-
Markets Brief: AI Leaders Excel in Earnings Season
-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
What’s the Difference Between the CPI and PCE Indexes?
-
5 Stocks to Buy That We Still Like After They’ve Run Up
-
AbbVie Earnings: Next-Generation Immunology Drugs Help Offset Humira Biosimilar Pressure
-
Exxon Earnings: Ignore Earnings Shortfall as Long-Term Growth and Improvement on Track
-
American Airlines Earnings: We See Costs Overshadowing Market Share This Year
-
Snap Earnings: Advertising Growth and Snapchat+ Drive Monetization
-
STMicro Earnings: We Still See an Attractive Margin of Safety Despite a Poor First-Half Forecast
-
Alphabet Shares Surge on Strong Earnings, Dividend Surprise
-
Microsoft Earnings: Firm Beats Forecasts on Strong AI and Cloud Demand
-
PG&E Earnings: Near-Term Regulatory Certainty Supports Industry-Leading Earnings Growth