Florida Power & Light seeks $7 billion increase to combat outages

In October 2025, hearings have commenced in Tallahassee regarding Florida Power & Light’s (FPL) proposal for a significant rate hike totaling $7 billion over a four-year period. The utility firm argues that this increase is critical to accommodate the rising energy demands stemming from Florida's booming population. FPL aims to use the funds to construct new power plants, replace outdated infrastructure, and invest in advanced technology designed to minimize power outages, which have become a growing concern for residents and businesses alike across the state. As part of this plan, the utility estimates that by 2026, the average monthly bill for a typical customer, currently at $134, would increase to $136.50. The cumulative effect of the proposed rate hike could mean an additional $8 rise in customer bills by 2029. This gradual billing increase reflects a larger trend of escalating operational expenses for both residents and businesses due to aging infrastructure and a pressing need for modernization within the energy sector. Concerns from business owners have surfaced during the hearings, showcasing the potential economic impact of the increased rates. For instance, Julian Siegel, a local business owner from Riverside Café, voiced his apprehensions, saying his utility costs had doubled over the last decade, with his monthly bills now reaching upwards of $2,000. He expressed a desire to avoid passing further costs onto customers but made it clear that any increase from FPL would severely strain his finances. The decision from the Florida Public Service Commission is anticipated by November 2025, which could significantly affect approximately 12 million customers statewide. The utility’s justification for this hike emphasizes the necessity of infrastructure upgrades to ensure reliability and efficiency in an evolving energy landscape. While the proposed rate increase may be viewed as a short-term burden for consumers, it is framed by FPL as a vital investment for the future stability and capacity of Florida’s energy supply.