Your power bill is going up. Tuesday night, the Florida Public Service Commission voted unanimously in favor of a $811M rate hike which had been sought by Florida Power & Light.
The vote came nearly a year after FPL first announced its intention to seek more money to complete $16B in improvements, including updating its grid, and building 26 new and expanded natural gas combustion turbines, three new solar energy plants and a new natural gas plant.
For FPL customers, this means annual rate hikes for the next four years. FPL will collect the first $400M of the increase in 2017, followed by $218M in 2018. Another $200M could be collected in 2019.
The first increase will take effect in January, when a typical 1,000-kWh residential user's bill will jump about $7 per month. That bill would jump again in 2018 and 2019, leveling off in 2020 an average of $11-$12 per month above what customers pay now.
Florida Power & Light serves about 4.8M customers in the state of Florida.
To find out exactly how much your bill will increase each month, visit: fpl.com/answers