Customers of Florida Power & Light Co. will get a break starting in July.
State regulators approved a plan Tuesday that will trim FPL customers’ bills because of lower-than-expected costs of natural gas used to fuel power plants.
The approval by the Florida Public Service Commission came after more than a year of volatility in fuel prices that helped drive up bills for customers of FPL and other utilities — but in recent months has allowed FPL to begin passing along savings.
READ MORE: Florida ranked 8th for highest electric bills across the U.S. in 2022, according to a study
The plan involves $256 million in reductions that will start to be applied to FPL customers’ bills in July, after regulators also approved $379 million in reductions that took effect in May. Earlier in the year, FPL bills increased because of a combination of factors, including fuel costs and hurricane-related expenses.
“We are committed to keeping bills as low as possible for our customers,” Armando Pimentel, president and CEO of FPL, said in a prepared statement after Tuesday’s commission approval. “With fuel prices moderating, we are pleased to pass along additional savings to our customers.”
In addressing rates, utilities rely on a benchmark of residential customers who use 1,000 kilowatt hours of electricity a month. Because of a merger with the former Gulf Power in Northwest Florida, FPL has two sets of rates.
Under the plan approved Tuesday, customers who are in areas traditionally served by FPL and use 1,000 kilowatt hours of electricity will see their monthly bills decrease from the current $139.95 to $136, according to the utility and the commission. That remains higher than bill amounts early in the year, when they were $125.39 in January and $129.59 in February before jumping to $144.38 in April.
Copyright 2023 WJCT News 89.9.
