Florida Power & Light Reaches Deal To Raise Rates, Boost Solar

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Florida Power & Light reached a settlement with consumer and business representatives, including the Southern Alliance for Clean Energy, on a four-year rate plan that increases base electric rates while supporting solar expansion and electric vehicle charging infrastructure. The agreement trims FPL's original proposed rate increases by $428 million and reduces the allowed return on equity from 11.5% to 10.6%. Stephen Smith, executive director of SACE, praised the deal as a win for clean energy momentum in Florida.