The SB 126 bill would require the Florida Public Service Commission to justify rate increases for investor-owned utilities and to consider affordability when making rate decisions. It was filed just weeks after the PSC approved a nearly $7 billion rate increase for FPL, affecting about 12 million customers and marking the largest rate hike in state history.

The Florida Public Service Commission signed off on an agreement, which FPL negotiated with several business groups and large energy users. The deal includes base-rate hikes of $945 million in 2026 and $705 million in 2027, with additional charges in 2028 and 2029 tied to solar and battery-storage projects.

The draft ordinance proposes financial incentives for developers and homeowners, introducing a point-based system that awards reductions in building permit fees for incorporating environmentally friendly design features such as passive solar design, natural ventilation, and sustainable materials.

The settlement has drawn opposition from the state Office of Public Counsel—which by law represents consumers—as well as several consumer advocacy groups.