BROWARD COUNTY, Fla. – Florida Power & Light filed a plan with the Florida Public Services Commission Wednesday to reduce customer fuel charges by $379 million beginning in May.
FPL said in a news release Wednesday that the fuel charge relief is meant “to partially offset proposed bill increases to pay for last year’s two hurricane restorations and high fuel costs.”
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“The proposal would reduce the fuel charge on the typical 1,000-kWh residential customer bill by $4.43 a month, including taxes and fees, from May through December,” the news release stated.
“This is good news for customers,” said Armando Pimentel, president and CEO of FPL. “We recognize that sharp inflation is impacting our customers and that every dollar counts which is why we are pleased to provide relief to customers as fuel prices have moderated.”
According to the news release, “the PSC is also considering proposals FPL submitted in January to increase customer bills in April to recover $1.3 billion in incremental restoration costs from Hurricanes Ian and Nicole.”
To partially offset the proposed increases, FPL called for lowering projected 2023 fuel charges by $1 billion due to an expected drop in natural gas prices below original projections.
Wednesday’s proposal to reduce fuel charges by $379 million is in addition to the earlier $1 billion proposed reduction.