(The Center Square) – The Florida Public Service Commission has delayed the start of a hearing on Florida Power & Light Co.'s request for a hike in electricity rates.
The delay is designed to give the utility company more time to finalize a settlement with key stakeholders, according to the power company.
“We are pleased to have reached an agreement and appreciate the commission's actions today to ensure a fair and open process for our customers and stakeholders,” President and CEO Armando Pimentel said in a statement Monday, the day technical rate-hike hearings were scheduled to begin.
Florida Power & Light, with 6 million power customers, filed a rate increase request Feb. 28 for the years 2026-29.
Since the request was received, the Public Service Commission has been holding a series of hearings to receive feedback from groups opposing the rate hike.
A hearing scheduled for Monday would have allowed the company and stakeholders “to present sworn testimony and exhibits in support of their positions,” the commission said.
The utility has reached an “agreement in principle” with the Florida Retail Federation, Florida Industrial Power Users Group, Florida Energy for Innovation Association, Walmart, the Southern Alliance for Clean Energy, EVgo Services, Fuel Retailers, Electrify America and the Federal Executive Agencies and Armstrong World Industries, the company said in a release.
“We are confident that the agreement we reach should enable FPL to continue to make smart investments on behalf of our customers, ensuring we can continue to provide reliable electricity while keeping customer bills low,” Pimentel said.
The power company asked the commission to delay Monday’s hearing to allow time to finalize the agreement.
When a final settlement is reached, it will be presented to the commission for approval. The utility company has proposed an effective date of Jan. 1 for the new rates to take effect.
The settlement “would keep customer bills well below the national average through the end of the decade,” Florida Power & Light said in a statement.
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