Thanks to greater efficiency and lower natural gas costs, Florida Power & Light Co. customers will enjoy their fourth rate decrease in 16 months starting April 1, FPL announced recently from Juno Beach.
Having filed its request with the Florida Public Service Commission (PSC) earlier in February, the projected savings will lower the average residential customer bill by $1.65 per month. Notably, the good news coincides with plans for a brand-new FPL Port Everglades Next Generation Clean Energy Center to replace an obsolete plant.
When the new savings take effect, the typical household utility bill will be over $16 lower than it was a decade ago. Notwithstanding the imminent rate reduction, FPL customers’ typical residential bills are already approximately 30 percent lower than the national average and the lowest compared to other Florida utilities.
"Our long-term strategy of investing in fuel-efficient modernizations, including phasing out old, oil-fired power plants continues to pay off meaningfully for our customers," Eric Silagy, FPL’s president and CEO, said.
The company's carbon emission rate is already cleaner today than the target rate set by the EPA for Florida to meet by 2030, and the new energy center will also cut the carbon emissions rate in half and reduce overall air emissions by more than 90 percent.
"[O]ur history of smart, long-term investments in clean, fuel-efficient technology positioned us well, mitigating the need for our customers to pay more for compliance," Silagy said.