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.

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.

One major factor accelerating the crisis is the expansion of Fannie Mae’s “blacklist,” which now includes over 1,400 Florida condo associations.