“FPL estimates that its proposal, along with the projections for fuel and other costs, will grow a typical residential customer bill by an average annual rate of approximately 2.5% from January 2025 through 2029.”

In context

“reciably higher interest rates and other capital markets factors we have experienced since our last rate case and which we expect to continue during the term of the proposed four year rate plan. FPL also expects to propose maintaining FPL's long standing equity ratio approved in prior base rate cases, which is intended to keep it in a position to continue to access capital as needed through 2029. We continue to believe that a strong balance sheet, which starts with an appropriate equity layer and which supports strong credit ratings remains critical to ensure FPL maintains uninterrupted access to the capital markets, even in times of significant market disruption. It also allows us to attract capital to support the investments FPL is making to further improve the value we offer customers. FPL estimates that its proposal, along with the projections for fuel and other costs, will grow a typical residential customer bill by an average annual rate of approximately 2.5% from January 2025 through 2029. If the full amount of the requests were granted under our proposal and assuming other utilities experienced bill increases only at their historical rates of increase, we expect FPL's typical customer bills will continue to remain significantly lower than the national average through 2029. To put this proposal in context, it would result in a typical customer bill in January 2026 that is nearly 21% less than it was in real terms 20 years ago, even with our proposed base rate increases. We look forward to the opportunity to present the details of our case and expect to make our formal filing with testimony and required detailed data in February. The timeline for proceeding will ultimately be determined by the commission, but we currently expect that we will have hearings in the third quarte”