Florida Power & Light is asking state regulators for a jaw-dropping $10 billion rate hike over the next four years — which environmental advocates say could be the biggest utility increase in U.S. history.
The plan would roll out in 2026 and 2027 with base rate jumps, plus more hikes in 2028 and 2029 to pay for new solar and battery storage projects. FPL says it’s about keeping our lights on, diversifying energy, and still staying below the national average. They estimate the typical bill would go up $10–$20 a month by 2029.
Critics? They’re not buying it. Advocacy groups say this will hit low-income Floridians hardest, push bills up over $360 by 2027, and send way too much cash to shareholders. And with Miami already feeling the squeeze on rent, groceries, and gas, another bill jump could sting.
The Florida Public Service Commission is holding hearings now, with a decision expected after August. If approved, this comes just months after another $1.2 billion increase for storm repairs.
So, Miami — ready to pay more to keep the AC running?