Florida Power & Light Co. filed updated fuel cost projections for 2015 with the Florida Public Service Commission (PSC), requesting to reduce customer rates beginning May 1, 2015, thanks primarily to projected savings on natural gas costs.
If approved by utility regulators, FPL's typical 1,000-kilowatt-hour residential customer bill would decrease by $3.00 a month. With this reduction, FPL's typical bill will be approximately 30 percent lower than the latest national average.
"We're thrilled to be able to reduce rates while we continue to deliver clean power and outstanding service for our customers," said Eric Silagy, president and CEO of FPL. "The investments we've made in converting our old, oil-fired power plants to modern energy-efficient centers that run on clean natural gas continue to deliver benefits. U.S.-produced natural gas is critical to reducing emissions and keeping our customers free from the past's reliance on foreign oil, and the projected decrease in cost is an excellent added benefit for our customers."
On track to continue to be the lowest in Florida for a sixth year in a row, FPL's typical 1,000-kWh residential customer bill with the rate reduction will be more than 10 percent lower than it was in 2006, nearly a decade ago.