“If state regulators approve our plan, a typical FPL residential bill will grow at an annual average rate of just 2.5% from 2025 through 2029.”

In context

“February 28, we initiated Florida Power & Light's 2025 base rate proceeding. The 4-year base rate plan we have proposed has been designed to support continued investments in cost-effective generation, long-term infrastructure and advanced technology, which improves reliability and helps keep customer bills low. Today, FPL's typical residential bill remains well below the national average and amongst the lowest of the top 20 investor-owned utilities in the nation. With the proposed base rate adjustments and current projections for fuel and other costs, FPL's typical residential bill is expected to be approximately 20% below the projected national average. A technical hearing at the Florida Public Service Commission is scheduled next month. We expect a final decision in the fourth quarter. If state regulators approve our plan, a typical FPL residential bill will grow at an annual average rate of just 2.5% from 2025 through 2029. Now let's turn to Energy Resources, which reported an adjusted earnings per share increase of $0.11 year-over-year. As you'll recall, the prior comparable quarter reflected higher-than-expected and onetime expenses. Contributions from new investments increased $0.14 per share year-over-year, primarily driven by continued growth in our renewable and storage portfolios. Our existing clean energy portfolio decreased $0.02 per share, primarily reflecting weaker wind resource during the quarter. Wind resource for the second quarter of 2025 was approximately 97% of the long-term average versus 104% in the second quarter of 2024. Our customer supply business increased $0.06 per share compared to the second quarter last year, which was impacted by higher depletion expense and certain nonrecurring”