Daytona Beach, FL – If you’re a Florida Power & Light customer, expect your bill to go down a few dollars per month starting in 2016.
The utility announced on Wednesday that it’s asking the Florida Public Service Commission to reduce its monthly rates starting in January.
FPL President & Chief Executive Officer Eric Silagy says the rate drop is due in part to the company’s ongoing power plant renovations as well as low fuel prices.
“Our previous investments in smart technology and relentless focus on productivity are paying off for our customers,” Silagy added. “Our typical bill in 2016 will be more than 10% lower than it was 10 years ago.”
A typical residential customer that uses around 1,000 kilowatt hours should save an average of $2.50 a month should the FPSC approve the rate change in November.
Most FPL business customers are expected to save anywhere between 2% to 6% a month if the rate change is approved.
FPL officials say a typical customer is paying around 30% less for electricity than the national average and that its 1,000 kWh residential bill is the lowest amongst all reporting utilities in Florida.
Company reports also show that FPL converting several power plants to natural gas – including one in Cape Canaveral – have produced more than $7.5 billion in fuel savings for customers since 2001.
The FPSC will review FPL’s cost projections as part of its annual regulatory process.
FPL residential customers can see how much they might save by using FPL’s online calculator (click here).
Copyright 2015 Southern Stone Communications.