A new, four-year rate agreement for FPL approved by the Florida Public Service Commission Thursday will raise a typical 1,000-kWh residential customer's bill two percent a month or about $2.50.

The agreement sets rates for 2026 through 2029 and was developed in collaboration with a coalition of customer groups.

The typical residential customer bill will go from the current $134.14 to $136.64.

FPL's current four-year rate agreement is set to conclude at the end of this year and the new rates take effect Jan. 1.

 "We appreciate the Florida Public Service Commission's thorough review of our rate plan,"  FPL President and CEO Armando Pimentel said. "Today's vote enables FPL to continue to deliver some of America's most reliable electric service and meet the needs of our fast-growing state—and we project will keep customer bills well below the national average through the end of the decade. As we begin our second century of serving Florida, approval of this plan is a win for our customers and a win for the entire state."

FPL on Feb. 28 submitted a petition to the PSC to set new rates for 2026 through 2029. In August, FPL reached a four-year agreement with a broad coalition of customer groups on a revised rate plan and presented it to the PSC.

The rate-setting process took about 11 months. FPL submitted more than 70,000 pages of testimony, exhibits and discovery materials and answered more than 2,000 inquiries from PSC staff and intervening parties.

FPL said it took part in 10 public hearings around the state in May and June, with more than 400 customers weighing in. FPL witnesses participated in 37 depositions and nine days of technical hearings in October.

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