Friday, February 3, 2023

FPL proposes new rate hike: Know how it will affect you

The company that provides electric service in Florida, FPL, wants to increase its rates starting in April to cover costs associated with hurricanes that hit the state in 2022 and fluctuating gas prices last year As announced by the company.

A statement from FPL said, “Florida Power and Light Company today entered into a new agreement with the Florida Public Utility Commission (PSC) to recover customer rates during 2022 for two hurricane restoration and costs associated with fluctuating natural gas prices.” filed a motion to adjust.”

If the proposal is approved, FPL’s typical 1,000 kWh residential bill would increase by approximately 10% in April to $129.59 compared to rates in effect in February. As per the information shared by the company, the increase for the North West of the state will be close to 8%.

According to FPL’s calculations, the average bill for 1,000 kWh would pay about $142.88 (about $12 more than in February) with the proposed increase.

Prior to the April increase, the average bill in the state had already increased by about $5 for January and $4 in February.

The company clarifies that under PSC regulations, FPL and other utilities are responsible for restoring power after a storm and paying bills in advance. “Utilities then recover their restoration costs through surcharges on customer bills, subject to PSC review and approval of the expenses incurred. In this case, FPL recovered $1.3 thousand million for restoration costs from Hurricanes Ian and Nicole.” demands.

FPL aims to raise more than $2 billion in 2022 due to higher natural gas prices.

Nation World News Desk
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