Tallahassee, FL — Today, the Desantis-appointed Florida Public Service Commission (PSC) approved a highly contentious $7 billion rate hike for Florida Power & Light (FPL) customers. It is the largest rate hike in U.S. history. With today’s approval, 12 million Floridians will pay, on average, over $14/month more come January 2026. Next year, FPL customers will pay an additional $175/annually in energy, fuel, and taxes, and by January 2028 bills will be $289 more annually.

Food & Water Watch analysis finds that from December 2020 to January 2026, the average FPL customer using 1000 kWh/month will see bills go up by 45%, or $513 more annually.

The rate hike was approved despite sustained public outcry. Last month, 29 Florida elected officials sent a letter to Governor DeSantis and his Public Service Commission urging them to reject FPL’s rate hike proposal. This echoed calls from advocates, the Manatee County Commission, the City of Pembroke Pines, and the Office of Public Counsel (OPC) opposing the rate hikes.

“Four years ago, FPL was awarded one of the largest rate hikes in U.S. history. Today, they’ve made history again at nearly double that amount. This shameful decision illustrates why our state energy regulators cannot be trusted to ensure that families have reliable, affordable energy,” said Food & Water Watch Senior Florida Organizer Brooke Ward. “People are not asking for diamonds or gold — while greedy utilities keep raking in record profits, regular Floridians want to be able to afford running their air conditioners and heaters. The legislature must pass affordable energy legislation this session to ensure fair electricity prices.”

The PSC’s decision rubber-stamps the special interest groups who entered into a closed-doors settlement proposal with FPL. Residential customer advocates and the Office of Public Counsel were left out of the settlement. Revenue from all customers will now subsidize increased discounts on large companies’ energy usage during peak times, according to the OPC. Under this deal, the OPC also reported that FPL shareholder profits will be the highest in the lower 48 states with a return on equity at 10.95%. To guarantee these shareholder profits, half of every dollar FPL requested will go toward those profits and associated taxes. 

In 2025, FPL customers paid an additional $12 more monthly in storm recovery charges from 2024’s storms. The approval for those charges expires in January 2026.

Yoca Arditi-Rocha, CEO of The CLEO Institute, stated, “rate hikes like this deepen the affordability crisis facing Florida families. The recent election made it clear that people want regulators who protect customers, not utilities. Floridians deserve an energy system that lowers bills, increases resilience, and puts the public first.”

“By approving this rate hike, the PSC has handed FPL another blank check while Floridians struggle to keep the lights on,” said Alyssa White, Climate Justice Organizer of Florida Student Power. “This is a slap in the face to every family, student, and small business already drowning in high bills. Our communities deserve an energy system that puts people over profit, and we will continue to build the power to make that happen!”

“Today’s decision by the Public Service Commission is a profound disappointment,” said Mary Gutierrez, Director and Environmental Scientist for Earth Ethics. “Approving yet another rate hike for Florida Power & Light places an unacceptable burden on families already struggling with high utility bills. Floridians deserve protection—not rubber-stamped increases that put corporate profits ahead of people.”

“It is an outrage that the Florida Public Service Commission approved yet another rate increase for Florida Power and Light. FPL is a for-profit company that operates as a monopoly in our community, extracting endless profits while our people struggle to make ends meet in this economy”, said Sarah Brummet with the Party for Socialism and Liberation. “That they would approve increased profits for the millionaires who run FPL is more evidence that the Public Service Commission is a captured regulatory body which betrays the public interest rather than defending it. If the PSC won’t defend our interests, the people will. It is time to build a movement that can end the monopoly FPL has over our state!”

“What we are hearing from people all around the state is ‘we can’t afford this!’” said Brian Lee, Campaigns Director at ReThink Energy Florida. “Working families have already been seeing their grocery and insurance bills rise and now their energy burden is increasing as well.  Florida’s legislature and governor need to take action to make Florida affordable again.”

“Today, the Public Service Commission had the opportunity to live up to its mission and ensure fair prices for ALL customers. Instead, they chose to hand FPL the highest rate increase in Florida history at the expense of struggling families and small businesses. FPL is one of the most profitable companies in the state, and yet the PSC chose to give them a handout while Floridians scrape by, juggling the cost of everyday necessities like groceries, medication, and child care,” said Catalyst Miami Climate Justice Program Manager, Maria Claudia Schubert-Fontes. “Last year alone, FPL disconnected roughly 3 million Floridians across the state for nonpayment. These newly-approved rate increases will undoubtedly leave even more of our neighbors in the dark. Throughout the rate case process, residential customers overwhelmingly voiced opposition to higher energy bills. The Commissioners ignored ratepayers and ignored their duty, making it clear to all that their loyalty is to corporate interests and NOT to the people of Florida.”

“The decision made today by Florida’s Public Service Commission is extremely disappointing. As the largest rate hike in US history for a utility like this, this will not only affect Black and Brown, low-income communities, but every Floridian in the state at a time where many are struggling to keep up with grocery prices, medication, rent, and now even higher electricity bills. Our communities deserve commissioners that will look out for them, and that have the leadership to stand up against corporate greed,” said Katina Rentas Negrón, Florida Rising’s Climate Justice Campaigner. “The fight is not over. We will continue to fight for affordable, reliable, and clean energy for every Florida resident.”

“Blank checks for FPL’s billionaire business-class investors and big. unaffordable utility bills for Florida families – that’s the exact opposite of what the PSC should be doing. This failure to regulate FPL, a monopoly, for-profit, mega- business is unacceptable. The PSC must start regulating utilities in the public’s interest and stop making life harder for real Floridians,” said 

Jyoti Parmar, Clean Energy Organizer, Sierra Club of Florida.

“This decision hurts the people who are already struggling with higher power bills. FPL made this so-called ‘settlement’ with special interests so the utility can make even higher profits. They will rake in the money by charging small businesses and hard-working Floridians billions more in electricity rate increases,” said Bradley Marshall, attorney with Earthjustice representing Florida Rising, the League of United Latin American Citizens of Florida, and the Environmental Confederation of Southwest Florida in the rate case. “We look forward to reviewing the written decision and expect that this case will be appealed to the Florida Supreme Court, where we look forward to presenting our case.”

This is the second base rate hike the PSC has approved this month alone. The PSC approved Tampa Electric’s (TECO) 2026 base rate adjustment on November 4, which spiked people’s bills by an additional 6%. According to Food & Water Watch analysis, TECO customers will now pay 82% more than what they were paying 5 years ago, come January. TECO is expected to file for a new base rate increase in January.