FPL Customers Will Ring in the New Year With Lower Bills, no Additional Charge for Hurricane Dorian Restoration

FPL’s typical 1,000-kWh residential customer monthly bill to drop nearly $4 in January due to lower operating costs

Separate from the operating costs reduction, customers will not receive an additional charge from FPL for the large mobilization and restoration effort for Hurricane Dorian – saving each of FPL’s more than 5 million customers an average of $54

FPL’s relentless focus on operational efficiencies has driven down overall costs and saved customers from additional charges for Dorian restoration

FPL bills will remain among the lowest in the state and about 30% below the national average                              

JUNO BEACH, Fla. – Florida Power & Light Company (FPL) customer bills, already among the lowest in the state and nation, will begin the new year with a decrease in January. The typical FPL residential customer monthly bill will decrease by nearly $4 due to lower operating costs. The company also is able to avoid an additional charge to pay for the Hurricane Dorian mobilization and restoration efforts, saving each customer an average of approximately $54

Typically, FPL pays all costs of responding to major storms upfront and then is repaid over time through a temporary surcharge that is included on customer bills. For Hurricane Dorian restoration efforts, FPL paid an estimated $270 million, but due primarily to operational efficiencies that continue to drive down overall company costs, customers will not be charged an additional fee on their bills. Thanks to the flexibility negotiated by FPL and approved by the Florida Public Service Commission in the 2016 rate case settlement agreement, FPL is able to leverage these operational efficiencies to save customers Hurricane Dorian costs.

“Our long-term investments in state-of-the-art clean energy centers and in zero-emissions solar energy are helping to lower fuel costs and customer bills. We are focused on continuing to find innovative ways to save our customers money while providing industry-leading reliability,” said Eric Silagy, FPL president and CEO. “Our relentless focus on leveraging technology and finding efficiencies to lower costs throughout the company has enabled us to avoid increasing customers’ bills to pay for the cost of preparing and responding to Hurricane Dorian.”

Category 5 Hurricane Dorian devastated the Bahamas and was forecast to make landfall in FPL’s service area, with the potential to cause catastrophic damage for millions of Floridians. FPL followed its well-developed and systematic plan to respond to such an event, mobilizing a pre-storm workforce of approximately 17,000 personnel from FPL and across the country.

“When a hurricane threatens Florida, we never sit back and take a wait-and-see approach,” added Silagy. “While this hurricane season has come to a close, I urge all of our customers to take a hard look at their hurricane plans before the 2020 season to ensure their homes and businesses are prepared.”

Keeping bills low

Already among the lowest in the state and nation, FPL’s typical 1,000-kWh residential customer monthly bill will decrease by nearly $4 in January 2020 primarily due to lower fuel costs as a result of low natural gas prices, as well as investments in new, ultra-efficient clean energy centers, large scale solar energy facilities and a variety of cutting edge technologies that help FPL be the most cost-efficient electric utility in America.

FPL's Typical 1,000-kWh Residential Customer Monthly Bill

Current

Beginning

Jan. 2020


$99.90


$96.04

FPL's typical bill is about 30% lower than the U.S. average, according to the latest available data.

 

Sources: U.S. average ($141.56) is based on Summer 2019 bills from 175 utilities, published by the Edison Electric Institute

Florida Power & Light Company

Florida Power & Light Company is the largest energy company in the United States as measured by retail electricity produced and sold, serving more than 5 million customer accounts or an estimated 10 million+ people across the state of Florida. FPL’s typical 1,000-kWh residential customer bill is approximately 30% lower than the latest national average and among the lowest in the U.S. FPL’s service reliability is better than 99.98%, and its highly fuel-efficient power plant fleet is one of the cleanest among all electric companies nationwide. The company was recognized in 2018 as one of the most trusted U.S. electric utilities by Market Strategies International for the fifth consecutive year. A leading Florida employer with approximately 9,100 employees, FPL is a subsidiary of Juno Beach, Florida-based NextEra Energy, Inc. (NYSE: NEE), a clean energy company widely recognized for its efforts in sustainability, ethics and diversity, and has been ranked No. 1 in the electric and gas utilities industry in Fortune’s 2019 list of “World’s Most Admired Companies.” NextEra Energy is also the parent company of Gulf Power Company, which serves more than 460,000 customers in eight counties throughout Northwest Florida, and NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world’s largest generator of renewable energy from the wind and sun and a world leader in battery storage.

 For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.comwww.FPL.comwww.GulfPower.comwww.NextEraEnergyResources.com.

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