FPL reaches proposed settlement on rate increases, with lower hikes than originally sought

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Florida Power & Light reached a proposed settlement with multiple stakeholders including the Southern Alliance for Clean Energy on rate increases totaling $945 million in 2026 and $766 million in 2027—lower than FPL's original request. The settlement also reduces the allowed return on equity from 11.9% to 10.95%. However, the Office of Public Counsel and other consumer advocacy groups have not signed on, arguing the deal favors large businesses over residential customers.