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FPL Seeking Record-Setting Utility Rate Hike Starting In 2026
Opposition is already mounting against the utility company's petition that was filed in February outlining a base rate increase of $8.9 billion and could exceed $10 billion if additional solar and battery storage projects planned for 2028–2029 are approved.
Sides Line Up On FPL Rate Hike; ‘Stability’ Versus ‘Extravagance’
The Florida Public Service Commission is set to hold a potentially contentious hearing in September to evaluate how much FPL customers will pay for electricity over the next four years. The utility company says its proposed base-rate hikes are essential to support growth and maintain system reliability but critics argue the multibillion-dollar plan is excessive and must be scaled back.
Experts estimate that demand is growing by nearly 3% annually, with even sharper spikes during the summer months. In fact, last year’s summer peak demand jumped by 10 gigawatts—twice the increase seen the year before.
FPL Rate Hike Plans Spark Debate Ahead Of Hearing
If approved, the rate hike would gradually increase customer bills through 2029. FPL argues that the higher rates are necessary to ensure reliable service and to support infrastructure expansion in response to Florida's rapidly growing population.