The frustration behind Florida’s rate-hike revolt is understandable. But if policymakers want to provide real relief, they may need to look beyond limiting utility profits and reconsider why customers are being asked to fund preferred energy projects through subsidies and special regulatory treatment.

According to a report from the Energy and Policy Institute, FPL outpaced other utilities in the share of customer payments retained as profit. The group argues that rising utility profits across the country are contributing to higher electricity bills and is calling for tighter regulation.

A bill in the Florida Legislature that was designed to lower the burgeoning cost of electricity for residents has died at the hands of the utility industry for the second year in a row.

The Florida city of Leesburg has increased utility rates for natural gas and electricity due to losses of over $3.3 million caused by the recent historic freeze.