FPL seeks “historic” $9.8 billion rate hike
Islander News
By Hillard Grossman
This article originally appeared in the Islander News.
A person writing on a $9.8 billion check with the FPL logo on it.
AndreyPopov / Getty Images
If the recent power outages on Key Biscayne didn't get you hot under the collar, then maybe an historic proposed rate hike will.
Florida Power & Light Co. is asking the Public Service Commission for a $9.8 billion rate hike over the next four years, the largest utility hike in U.S. history. It would be FPL's third-rate hike since 2021.
What does it mean for consumers? If approved, reportedly, bills could go up some $200 a year by 2027, while another analysis from Food & Water Watch shows those bills climbing to as much as $360 a year once the extras are added on, such as storm surcharges.
Prior to next week's official Public Service Commission hearings, Catalyst Miami (founded in 1996 by now-Miami-Dade County Mayor Daniella Levine Cava) held a national FPL Rate Case Press Briefing on Tuesday afternoon via Zoom.
The briefing featured Congressional Representative Kathy Castor (D-FL) and a panel of consumer advocates and legal experts explaining how monopolies speak of "funny math" when it comes to their demands and how a decision in FPL's favor could lead to national and statewide implications as companies follow suit after each demand is won.
Earlier this summer, the state’s Office of Public Counsel provided expert testimony that FPL should decrease rates by $620.5 million in 2026 instead of increasing rates by $1.545 billion for the same period.
Just four years ago, the PSC approved FPL's nearly $5 billion rate hike. Since then, customer bills have skyrocketed by an average of $400 in annual costs.
Even with an abundance of sunshine to fuel solar-powered electricity, Floridians still are paying among the highest utility bills in the country.
Financial burdens have affected many. In fact, 47% of Floridians, it was learned, already cannot afford the cost of living and are struggling to pay for utilities, especially seniors, who are having to choose between food and medicine or air and heat.
During the news conference, attorney Bradley Marshall pointed out that from March 2024 to February 2025, FPL shut off 1.216 million residential customers at one point for non-payment — about a fifth of their residential customers.
Here were some of the panelists' comments:
U.S. Rep. Kathy Castor: “Floridians need relief from skyrocketing electric bills, but too often utility companies and politicians secretly act to make energy more expensive and boost shareholder profits rather than serve the public. Ratepayers should not fund utility lobbying and political campaigns that disadvantage working families and small businesses.
"My Ethics in Energy Act will help protect consumers and ensure utilities like Florida Power & Light are using ratepayer dollars responsibly – not for lobbying for their own profit. I am grateful to my many partners across the country who are leading the way to expand cleaner, cheaper energy and protect our people, planet, and pocketbooks.”
She further called for a push to modify rules to prevent consumers' monies from going to FPL's advertising expenses "designed to influence public opinion" or backing public officials' elections.
"We have to put the 'public' back into the Public Service Commission," she said.
Susan Glickman, VP of Policy & Partnerships for The CLEO Institute: “Families shouldn’t have to choose between paying their power bill and putting food on the table. We call on the PSC to protect the public interest, not corporate profits."
Mary Gutierrez, Director and Environmental Scientist at Earth Ethics: “While Florida Power & Light rakes in record profits, our communities are left to shoulder the cost — this is not energy justice, it’s corporate greed.”
Brooke Ward, Senior Florida Organizer with Food & Water Watch: "Florida’s energy affordability crisis should be a wake-up call to those around the country. Corporate utilities in multiple states have been asking for record-setting rate hikes and won’t stop unless our legislators take action.
"Floridians need our elected officials and regulators to stand up and put people over profit. We need action toward an affordable and clean energy future now.”
Christopher Arriaza, Co-Chair of the Miami-based Power U Environmental Justice Committee: "We need housing — they raise the rent. We need electricity — and monopoly companies like FPL raise rates again and again. It’s happening right in front of us. We see it, but we don’t always recognize it as the privatization of public goods.
"This isn’t just unfair, it’s a system that thrives by putting profit over people. But Florida can lead. We can set the standard for utility justice. We can push back against corporate greed, but only if we come together and demand that those elected, and those appointed — like the Public Service Commission — serve us and act in the interest of the people.
"The time is now ... push back against corporate greed. We are not powerless."
Zayne Smith, Senior Advisor of Advocacy at AARP Florida: “Florida Power & Light’s proposed rate hike would hit older Floridians hardest, especially those on fixed incomes who are already stretched thin. Rising electric bills mean difficult choices like skipping meals or medication just to stay cool. Regulators must protect Florida’s most vulnerable and prioritize customer interests over corporate profits.”
Maria Claudia Schubert Fontes, Climate Justice Manager for Catalyst Miami: “Hard-working Floridians have not seen changes in their wages, yet the cost of living has steadily increased. While our communities struggle to make ends meet on the same income, they also face more frequent heat waves and cold fronts, leading to skyrocketing electric utility bills.
"FPL's latest rate request would generate 50 cents of profit for every dollar at a time when the company has already shut off more than a million residential customers due to nonpayment. This increase will undoubtedly leave more residential customers in the dark."
So, what's next?
If the Public Service Commission approves any part of FPL's request, that decision would come sometime in November or December, in time for the first billing cycle of 2026, Marshall said. Then, with a four-year approval, he would expect FPL to come knocking again in 2028 or 2029 for an adjustment as more solar stations are rolled out.
Ward, who called excessive demands from major companies "funny math," said, "This isn't about reliability or infrastructure, it's about boosting profits. Nearly half of every dollar FPL has requested is for shareholder profit."
She called on legislators to require utilities to share the responsibility; tie utility profit to performance; require a more balanced capital structure; and bring transparency to "a system that currently operates in the shadows. ... These are not radical ideas, just common-sense reforms."
The bottom line? Contact your local elected officials and state representatives to demand "people over profits."
By Hillard Grossman
This article originally appeared in the Islander News.
A person writing on a $9.8 billion check with the FPL logo on it.
AndreyPopov / Getty Images
If the recent power outages on Key Biscayne didn't get you hot under the collar, then maybe an historic proposed rate hike will.
Florida Power & Light Co. is asking the Public Service Commission for a $9.8 billion rate hike over the next four years, the largest utility hike in U.S. history. It would be FPL's third-rate hike since 2021.
What does it mean for consumers? If approved, reportedly, bills could go up some $200 a year by 2027, while another analysis from Food & Water Watch shows those bills climbing to as much as $360 a year once the extras are added on, such as storm surcharges.
Prior to next week's official Public Service Commission hearings, Catalyst Miami (founded in 1996 by now-Miami-Dade County Mayor Daniella Levine Cava) held a national FPL Rate Case Press Briefing on Tuesday afternoon via Zoom.
The briefing featured Congressional Representative Kathy Castor (D-FL) and a panel of consumer advocates and legal experts explaining how monopolies speak of "funny math" when it comes to their demands and how a decision in FPL's favor could lead to national and statewide implications as companies follow suit after each demand is won.
Earlier this summer, the state’s Office of Public Counsel provided expert testimony that FPL should decrease rates by $620.5 million in 2026 instead of increasing rates by $1.545 billion for the same period.
Just four years ago, the PSC approved FPL's nearly $5 billion rate hike. Since then, customer bills have skyrocketed by an average of $400 in annual costs.
Even with an abundance of sunshine to fuel solar-powered electricity, Floridians still are paying among the highest utility bills in the country.
Financial burdens have affected many. In fact, 47% of Floridians, it was learned, already cannot afford the cost of living and are struggling to pay for utilities, especially seniors, who are having to choose between food and medicine or air and heat.
During the news conference, attorney Bradley Marshall pointed out that from March 2024 to February 2025, FPL shut off 1.216 million residential customers at one point for non-payment — about a fifth of their residential customers.
Here were some of the panelists' comments:
U.S. Rep. Kathy Castor: “Floridians need relief from skyrocketing electric bills, but too often utility companies and politicians secretly act to make energy more expensive and boost shareholder profits rather than serve the public. Ratepayers should not fund utility lobbying and political campaigns that disadvantage working families and small businesses.
"My Ethics in Energy Act will help protect consumers and ensure utilities like Florida Power & Light are using ratepayer dollars responsibly – not for lobbying for their own profit. I am grateful to my many partners across the country who are leading the way to expand cleaner, cheaper energy and protect our people, planet, and pocketbooks.”
She further called for a push to modify rules to prevent consumers' monies from going to FPL's advertising expenses "designed to influence public opinion" or backing public officials' elections.
"We have to put the 'public' back into the Public Service Commission," she said.
Susan Glickman, VP of Policy & Partnerships for The CLEO Institute: “Families shouldn’t have to choose between paying their power bill and putting food on the table. We call on the PSC to protect the public interest, not corporate profits."
Mary Gutierrez, Director and Environmental Scientist at Earth Ethics: “While Florida Power & Light rakes in record profits, our communities are left to shoulder the cost — this is not energy justice, it’s corporate greed.”
Brooke Ward, Senior Florida Organizer with Food & Water Watch: "Florida’s energy affordability crisis should be a wake-up call to those around the country. Corporate utilities in multiple states have been asking for record-setting rate hikes and won’t stop unless our legislators take action.
"Floridians need our elected officials and regulators to stand up and put people over profit. We need action toward an affordable and clean energy future now.”
Christopher Arriaza, Co-Chair of the Miami-based Power U Environmental Justice Committee: "We need housing — they raise the rent. We need electricity — and monopoly companies like FPL raise rates again and again. It’s happening right in front of us. We see it, but we don’t always recognize it as the privatization of public goods.
"This isn’t just unfair, it’s a system that thrives by putting profit over people. But Florida can lead. We can set the standard for utility justice. We can push back against corporate greed, but only if we come together and demand that those elected, and those appointed — like the Public Service Commission — serve us and act in the interest of the people.
"The time is now ... push back against corporate greed. We are not powerless."
Zayne Smith, Senior Advisor of Advocacy at AARP Florida: “Florida Power & Light’s proposed rate hike would hit older Floridians hardest, especially those on fixed incomes who are already stretched thin. Rising electric bills mean difficult choices like skipping meals or medication just to stay cool. Regulators must protect Florida’s most vulnerable and prioritize customer interests over corporate profits.”
Maria Claudia Schubert Fontes, Climate Justice Manager for Catalyst Miami: “Hard-working Floridians have not seen changes in their wages, yet the cost of living has steadily increased. While our communities struggle to make ends meet on the same income, they also face more frequent heat waves and cold fronts, leading to skyrocketing electric utility bills.
"FPL's latest rate request would generate 50 cents of profit for every dollar at a time when the company has already shut off more than a million residential customers due to nonpayment. This increase will undoubtedly leave more residential customers in the dark."
So, what's next?
If the Public Service Commission approves any part of FPL's request, that decision would come sometime in November or December, in time for the first billing cycle of 2026, Marshall said. Then, with a four-year approval, he would expect FPL to come knocking again in 2028 or 2029 for an adjustment as more solar stations are rolled out.
Ward, who called excessive demands from major companies "funny math," said, "This isn't about reliability or infrastructure, it's about boosting profits. Nearly half of every dollar FPL has requested is for shareholder profit."
She called on legislators to require utilities to share the responsibility; tie utility profit to performance; require a more balanced capital structure; and bring transparency to "a system that currently operates in the shadows. ... These are not radical ideas, just common-sense reforms."
The bottom line? Contact your local elected officials and state representatives to demand "people over profits."
