Settlement Agreement Filed in FPL Rate Case to Accelerate Solar Power and Electric Vehicle Infrastructure Development in Florida
Commission approval would be a step forward in addressing the climate crisis in Florida
Tallahassee, Fla. – An agreement filed today at the Florida Public Service Commission between Florida Power & Light Company (FPL), Office of Public Counsel, Southern Alliance for Clean Energy (SACE), Florida Industrial Power Users Group, and the Florida Retail Federation will result in a significant acceleration in clean energy development in Florida over the next four years in addition to mitigating the rate impacts to customers of FPL’s proposed four-year rate plan filed March 12, 2021.
The agreement doubles FPL’s solar development commitment for 2024 and 2025. The Company had originally proposed 1,788 MW of new solar for those two years in its plans. The settlement agreement adds another 1,788 MW of solar development through the expansion of FPL’s SolarTogether shared solar program – which will include a 45 MW carve-out for low-income families. Moreover, the agreement ramps up the Company’s investment in electric vehicle charging infrastructure by $150 million, and includes a DC Fast Charging program that will expand access to chargers in underserved communities and along evacuation routes.
On March 12, 2021, FPL petitioned the Florida Public Service Commission for a base rate increase of $1.9 billion pursuant to a four-year rate plan. The settlement agreement reduces the requested rate increase by approximately $460 million in 2022 and 2023, while boosting clean energy investment. The settlement agreement, if approved by the Commission, will take effect on January 1, 2022, and run through at least 2025.
Dr. Stephen A. Smith, SACE Executive Director, said, “This historic settlement agreement significantly accelerates clean energy investments in solar, other clean technologies, and electric transportation in Florida while also mitigating the impacts of the Company’s proposed rate increase on customers. Rapidly scaling up investment in renewable resources like solar and electrifying transportation is key to addressing the climate crisis. These investments in clean energy are cost-effective for customers and also drive state economic development and job creation. We look forward to working with FPL and other signatories to implement these provisions and urge the Commission to approve the agreement.”
Since 1985, the Southern Alliance for Clean Energy has worked to promote responsible and equitable energy choices to ensure clean, safe, and healthy communities throughout the Southeast. Learn more at www.cleanenergy.org.