FPL, groups hammer out settlement proposal that would raise electric rates over the next four years

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Florida Power & Light and multiple stakeholder groups, including the Southern Alliance for Clean Energy, have reached a proposed settlement that would increase base electric rates over four years—$945 million in 2026 and $766 million in 2027—less than FPL's original February request. The settlement also includes solar and battery-storage cost recovery in 2028 and 2029, with a 10.95 percent return on equity target. However, the Office of Public Counsel and three advocacy groups (Florida Rising, LULAC Florida, and the Environmental Confederation of Southwest Florida) have not signed on, arguing the deal favors large commercial customers over residential ratepayers.