Florida Power & Light to Lower Customer Bills By Nearly 25-Percent Amid Coronavirus Pandemic

By  //  March 30, 2020

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beginning May 1

Florida Power & Light Company today announced its plan to significantly lower bills for the second time this year and fast-track savings to customers amid the ongoing coronavirus (COVID-19) pandemic. (FPL Image)

BREVARD COUNTY, FLORIDA – Florida Power & Light Company today announced its plan to significantly lower bills for the second time this year and fast-track savings to customers amid the ongoing coronavirus (COVID-19) pandemic.

Subject to Florida Public Service Commission approval, beginning May 1, FPL plans to issue a one-time decrease of nearly 25% for the typical residential customer bill as a result of lower fuel costs.

In Florida, FPL and other electric providers traditionally refund any fuel savings to customers over many months. However, given the abrupt financial challenges facing many customers due to COVID-19, FPL will instead request permission to give customers the total annual savings in a single month’s bill. Business customers will also see a significant one-time decrease in May, that will vary by rate class.

“Everyone at FPL understands how critical it is to continue to provide reliable electricity and to keep as much money as possible in our customers’ pockets,” said FPL President and CEO Eric Silagy.

“Traditionally, our regulators expect these types of savings to be spread out over the balance of the year. However, challenging times call for exceptional measures. I believe this one-time bill decrease is the most effective way to infuse customers with much-needed money as we all navigate through this difficult and unsettling time together.”

FPL’s Typical 1,000-kWh Residential Customer Bill

December 2019              Current                     May 2020
with one-time decrease

$99.90                              $96.04                          ~$74*

Before this proposed decrease, FPL’s typical bill was about 30% lower than the U.S. average, according to the latest available data.**

*Preliminary estimate subject to final calculations; FPL May bills also include a Solar Base Rate Adjustment, reflecting four new solar power plants entering service and generating clean, emissions-free energy for customers
**U.S. average ($141.56) is based on Summer 2019 bills from 175 utilities, published by the Edison Electric Institute

FPL’s typical monthly residential customer bill is already among the lowest in the state and nation and decreased nearly 4% in January, primarily due to lower fuel costs as a result of low natural gas prices.

FPL has also invested in new, ultra-efficient natural gas power plants, large- scale solar energy facilities and a variety of cutting-edge technologies – all of which helped FPL reduce the amount of fuel it needs to provide electricity. Just like driving a new car instead of one built in the 1970s, FPL’s smart investments in modern technology have helped the company reduce operating and fuel expenses, which is why FPL is now the most cost-efficient electric utility in the United States and one of the nation’s most fuel-efficient and cleanest energy providers.

Responding to COVID-19 pandemic

FPL has had a pandemic plan in place for many years and regularly trains and drills for unplanned events and crises.

The company understands the critical role electricity plays in the economy and daily lives of Floridians, and regardless of the circumstances FPL remains steadfastly committed to continuously delivering the reliable and affordable electricity that everyone relies on.

For customers experiencing hardship as a result of COVID-19, FPL has resources available at FPL.com/Help, or the company can connect customers with resources available from federal, state and local authorities.

To further assist customers, FPL is also implementing the same policies that it does during crises and has suspended electrical disconnections, is providing payment extensions and is waiving late payment fees for customers in a hardship situation. All of these policies will remain in effect while Florida is under a state of emergency.

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