Starting on March 1, 2018, FPL rates are going down. The majority of business customers will see an annual decrease of 2 to 4 percent, and typical business customer bills will continue to be among the lowest in the state and nation. Already among the lowest in the nation, FPL's typical residential customer bill will be approximately 30 percent below the latest national average.
The latest decrease is due primarily to the completion of a temporary surcharge for Hurricane Matthew restoration and savings generated by the closure of a major coal plant. FPL’s successful strategy of investing in affordable clean energy and enhancing its infrastructure continues to deliver tangible benefits for customers.
In January 2018, FPL also announced plans to apply federal tax savings toward the $1.3 billion cost of Hurricane Irma restoration to prevent an increase in customer rates. The ability to leverage the federal tax savings to cover restoration costs in this way is afforded by FPL’s current base rate agreement. FPL may be able to use future federal tax savings to continue operating under the rate agreement and potentially avoid a general base rate increase for customers for at least another year beyond 2020.
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