FPL reaches agreement in principle with key stakeholders that would keep customer bills well below national average
Florida Power & Light Company (NYSE:NEE) has reached an agreement in principle with key stakeholders on a four-year rate settlement that would maintain customer bills below the national average through 2029. The agreement, supported by multiple organizations including the Florida Retail Federation and Florida Industrial Power Users Group, follows FPL's February 28 petition for new rates for 2026-2029.
The company and stakeholders have filed a joint motion requesting the Florida Public Service Commission (PSC) to suspend technical hearings on the original rates petition. They plan to finalize and submit the settlement agreement by August 20, 2025. If approved, the new rates would become effective January 1, 2026.
Florida Power & Light Company (NYSE:NEE) ha raggiunto un accordo di massima con le parti interessate su una transazione tariffaria quadriennale che manterrebbe le bollette dei clienti al di sotto della media nazionale fino al 2029. L'accordo, sostenuto da diverse organizzazioni tra cui la Florida Retail Federation e la Florida Industrial Power Users Group, segue la richiesta di FPL del 28 febbraio per nuove tariffe per il periodo 2026-2029.
L'azienda e le parti interessate hanno depositato una mozione congiunta chiedendo alla Florida Public Service Commission (PSC) di sospendere le udienze tecniche sulla petizione tariffaria originale. Hanno in programma di finalizzare e presentare l'accordo di transazione entro il 20 agosto 2025. Se approvato, le nuove tariffe entrerebbero in vigore il 1潞 gennaio 2026.
Florida Power & Light Company (NYSE:NEE) ha alcanzado un acuerdo de principio con las partes interesadas clave sobre un pacto tarifario de cuatro a帽os que mantendr铆a las facturas de los clientes por debajo de la media nacional hasta 2029. El acuerdo, respaldado por varias organizaciones, entre ellas la Florida Retail Federation y la Florida Industrial Power Users Group, sigue a la petici贸n de FPL del 28 de febrero para nuevas tarifas para 2026-2029.
La compa帽铆a y las partes interesadas presentaron una moci贸n conjunta solicitando a la Florida Public Service Commission (PSC) que suspenda las audiencias t茅cnicas sobre la petici贸n original de tarifas. Planean finalizar y presentar el acuerdo de conciliaci贸n antes del 20 de agosto de 2025. Si se aprueba, las nuevas tarifas entrar铆an en vigor el 1 de enero de 2026.
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Florida Power & Light Company (NYSE:NEE) est parvenue 脿 un accord de principe avec les parties prenantes cl茅s sur un r猫glement tarifaire de quatre ans qui maintiendrait les factures des clients en dessous de la moyenne nationale jusqu'en 2029. L'accord, soutenu par plusieurs organisations dont la Florida Retail Federation et la Florida Industrial Power Users Group, fait suite 脿 la demande de FPL du 28 f茅vrier pour de nouveaux tarifs pour 2026鈥�2029.
L'entreprise et les parties prenantes ont d茅pos茅 une motion conjointe demandant 脿 la Florida Public Service Commission (PSC) de suspendre les audiences techniques relatives 脿 la demande de tarifs initiale. Ils pr茅voient de finaliser et de soumettre l'accord de r猫glement d'ici le 20 ao没t 2025. S'il est approuv茅, les nouveaux tarifs prendraient effet le 1er janvier 2026.
Florida Power & Light Company (NYSE:NEE) hat mit wichtigen Beteiligten eine grunds盲tzliche Einigung 眉ber einen vierj盲hrigen Tarifvergleich erzielt, der die Kundenrechnungen bis 2029 unter dem nationalen Durchschnitt halten w眉rde. Die Vereinbarung, die von mehreren Organisationen wie der Florida Retail Federation und der Florida Industrial Power Users Group unterst眉tzt wird, folgt der Eingabe von FPL am 28. Februar f眉r neue Tarife f眉r 2026鈥�2029.
Das Unternehmen und die Beteiligten haben einen gemeinsamen Antrag gestellt, die Florida Public Service Commission (PSC) m枚ge die technischen Anh枚rungen zu der urspr眉nglichen Tarifvorlage aussetzen. Sie beabsichtigen, die Vergleichsvereinbarung bis zum 20. August 2025 fertigzustellen und einzureichen. Wenn sie genehmigt wird, w眉rden die neuen Tarife am 1. Januar 2026 in Kraft treten.
- Agreement would keep customer bills well below national average through 2029
- Broad stakeholder support from multiple major organizations
- Enables continued smart investments while maintaining low customer bills
- Demonstrates successful negotiation with stakeholders avoiding potential regulatory conflicts
- New rates will take effect January 1, 2026, potentially impacting current rate structures
- Final agreement details and specific rate changes not yet disclosed
Insights
FPL's pending rate settlement reduces regulatory uncertainty and supports ongoing infrastructure investment while maintaining competitive pricing through 2029.
Florida Power & Light's agreement in principle represents a significant regulatory milestone that substantially reduces uncertainty about the company's revenue framework for the next four years (2026-2029). The settlement, supported by a diverse coalition including industrial users, retailers, clean energy advocates, and federal agencies, bypasses what could have been contentious technical hearings before the Florida Public Service Commission.
The regulatory process has been extensive, with FPL responding to over 3,000 interrogatories from 13 intervening parties. The broad stakeholder buy-in suggests the company has struck an effective balance between maintaining affordable rates and securing sufficient revenue for continued infrastructure investment.
From an operational standpoint, the agreement would enable FPL to continue capital deployment in Florida's growing market while maintaining bills "well below the national average." This pricing advantage is crucial in a high-growth state where population expansion drives electricity demand but requires continuous infrastructure investment to maintain reliability.
While specific financial terms haven't been disclosed yet, the constructive regulatory outcome likely provides FPL with the predictable revenue stream necessary to fund its capital program without excessive rate shock to customers. The scheduled January 1, 2026 implementation aligns with the expiration of the current rate agreement, providing seamless regulatory continuity that investors typically value in regulated utilities.
FPL and multiple intervenors filed a joint motion today asking the Florida Public Service Commission (PSC) to suspend technical hearings on FPL's original rates petition so that a settlement agreement can be finalized and filed with the PSC. The parties plan to work to finalize and file the agreement by Aug. 20.
A word from FPL President and CEO Armando Pimentel:聽"We are pleased to have reached an agreement in principle with key stakeholders. A settlement would provide a win for our customers and the state of
Participants:聽The agreement in principle is supported by the Florida Retail Federation, Florida Industrial Power Users Group, Florida Energy for Innovation Association, Walmart, the Southern Alliance for Clean Energy, EVgo Services, Fuel Retailers, Electrify America, the Federal Executive Agencies and Armstrong World Industries.
How we got here:聽With FPL's current four-year rate agreement set to conclude at the end of this year, FPL on Feb. 28 submitted a petition to the PSC to set new rates for 2026 through 2029. That kicked off an extensive public review process in which FPL submitted thousands of pages of witness testimony and documents in support of its proposal. FPL responded to more than 3,000 interrogatories and requests for documents from 13 intervening parties and FPL witnesses participated in more than 30 depositions. The PSC conducted 10 public hearings across the state in May and June in which hundreds of customers weighed in on FPL's proposal.
What's next: FPL and the supporting parties will appear before the PSC Monday to ask commissioners to suspend the technical hearing to allow the parties to finalize the agreement. If the PSC accepts the motion, a new hearing date will be set to review the finalized agreement. Any new PSC-approved rates would take effect Jan. 1, 2026.
About Florida Power & Light Company鈥�
Florida Power & Light Company is America's largest electric utility, delivering reliable power to more than 6 million customer accounts 鈥� serving approximately 12 million people across
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