FPL has asked the Florida Public Service Commission (PSC) to reduce customer rates again beginning in July based on a downward revision in projected natural gas costs for 2023.
The monthly bill for a 1,000-kWh residential customer was reduced by $4.43 in May because of a downward trend in projected fuel costs. The latest proposal would reduce bills by an additional $3.95 a month for a 1,000-kWh residential customer.
If the PSC approves FPL’s request, the July bill for a 1,000-kWh residential customer would be $8.38 or 6% lower than it was in April.
FPL typical 1,000-kWh residential bill |
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April |
May |
July (proposed) |
$144.38 |
$139.95 |
$136.00 |
Even before the May reduction, FPL’s typical residential bill was well below the national average and among the lowest in Florida.
In addition to the residential decrease, typical business customer bills decreased in May between 3% and 4% depending on rate class compared to April rates. Under FPL’s latest proposal, typical business customer bills will decrease in July by 3% to 5%, depending on rate class, compared to current rates.
Even with the approved and proposed fuel charge reductions, we recognize many Floridians are facing challenging times. FPL continues to improve the fuel efficiency of its power plants and invest in low-cost renewable energy that is reducing the fuel portion of customer bills. In fact, the ongoing modernization of our power plant fleet has saved customers approximately $14 billion in avoided fuel costs since 2001. In addition, investments in storm hardening, which improve the resiliency of the energy grid and help speed restorations after storms, also help to reduce storm costs.
Saving energy is the most effective way for customers to save on their electric bills. Check out our energy savings tips to discover quick and effective ways to help you conserve energy. You can also check your eligibility for FPL Budget Billing, which gives you more predictable electric bills by evening out your energy costs over the year so you pay about the same amount each month.