Florida families and businesses rely on dependable, affordable electricity – a necessity, particularly as our state’s growth continues alongside increasingly severe weather events. At Florida Power and Light Company, we’re dedicated to providing some of the most reliable electric service in America, consistently keeping customer bills significantly lower than the national average. Our commitment is to deliver ongoing value to our customers, which is why we’ve collaborated with the Florida Public Service Commission (PSC) to approve a comprehensive four-year plan. This strategic plan focuses on maintaining low customer bills while simultaneously building a more resilient and adaptable grid. Furthermore, it addresses the diversification of our energy sources to mitigate fuel cost fluctuations and ensures our award-winning service remains a national benchmark for reliability. This initiative truly reflects our dedication to understanding and responding to our customers’ needs, investing directly in the infrastructure that powers their lives.

Not all parties initially supported our initial proposal; however, through productive discussions in August, we achieved a settlement agreement with a majority of the stakeholders who participated as intervenors in the case. This carefully crafted settlement supports vital investments while steadfastly maintaining customer bills well below the national average through the end of the decade. Under this agreement, the typical (1,000-kWh) residential customer bill is projected to increase by approximately $2.50 per month in the upcoming year – representing less than 9 cents daily. Looking ahead to 2026, the typical FPL residential customer bill is estimated to be around 20% lower than it was 20 years ago, adjusted for inflation. This success stems from a period of extensive customer engagement and a willingness to compromise on key issues, without sacrificing our core principles: delivering reliable service and minimizing costs.

Multi-year settlement agreements are a standard practice in Florida utility rate cases and represent a significant benefit for customers. When FPL and numerous parties find common ground, it establishes rate stability for our customers and allows FPL to concentrate on operational improvements and strategic, long-term investments that enhance grid reliability and resilience. Over the past two decades, FPL customers have consistently benefited from these investments: FPL bills have consistently remained below the national average, saving a typical (1,000-kWh) residential FPL customer approximately $679 last year, compared to customers of average utilities. Remarkably, the reliability of our service has improved by approximately 40% since 2005, meaning the average customer now experiences substantially reduced outage durations. FPL’s reliability is 59% better than the national average, demonstrating a clear commitment to service excellence.

We’ve also driven down our non-fuel operating and maintenance costs, making us the most efficient utility nationwide. This operational efficiency saves a typical FPL residential customer around $24 per month compared to customers of average-performing utilities. Given Florida’s dynamic environment, characterized by frequent severe weather and storms, continued investment in our electric grid is paramount. We must maintain the exceptionally reliable service our customers expect and deserve. This settlement enables us to make these crucial investments while ensuring customer bills remain below the national average, alongside continued regulatory oversight and robust consumer protections. We firmly believe that the PSC and the public will recognize this settlement as a win for FPL customers and a positive outcome for all of Florida.

Armando Pimentel serves as the president and chief executive officer of Florida Power and Light Company. This opinion piece was originally published by the Palm Beach Post and distributed by The Invad ing Sea website (www.theinvad ingsea.com), which focuses on news and commentary regarding climate change and its environmental impacts on Florida.