Florida Power & Light Co. said the Florida Public Service Commission has approved the utility's request to reduce customer rates thanks to savings on fuel costs. Beginning May 1, 2015, the rate decrease will cut about $3 a month off a typical 1,000-kWh residential customer bill.
With this latest rate decrease, FPL's typical residential bill is about 30 percent lower than the latest national average. FPL's typical bill has been the lowest in Florida for more than five years in a row.
The rate decrease approved today means that, starting in May, FPL's 1,000-kWh bill will be more than 10 percent lower than it was in 2006, nearly a decade ago.
FPL business customers will also see a rate reduction — with typical business customer bills decreasing in the range of about 3 to 6 percent compared with current rates, depending on rate class and type of service.
FPL has been phasing out older, less-efficient fossil fuel plants since 2001 and replacing them with high-efficiency natural gas power plants that use one-third less fuel per megawatt-hour.
To date, these investments have prevented more than 85 million tons of carbon emissions — the U.S. Environmental Protection Agency-equivalent of removing more than 16 million cars from the road annually — and saved FPL customers more than $7.5 billion on fuel costs.