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ORDER NO. PSC -2022 -0433 -TRF -EI DOCKET NO. 20220165 -EI PAGE 4 FPL's petition includes the proposed tariff sheets (Exhibit B-4 to the amended petition) and the calculation of the IRA adjustment factor of (0.775) percent (Exhibit B-3, Part 2 at page 1 of 48, of the amended petition). The IRA adjustment factor was calculated by dividing the $69.7 million reduction to the 2023 base revenue requirement by the 2023 projected retail base revenue from sales of electricity ($8,999.9 million). The IRA adjustment factor was applied to the base rates for all rate classes (Exhibit B-3, Part 2 pages 3-48 to the amended petition). In Order No. PSC -2021 -0446 -S -EI, we approved an increase of $560 million in FPL's base rates effective January 2023. This Commission -approved increase is also reflected in the revised tariffs, as both the previously approved $560 million base rate increase and the proposed IRA base revenue decrease are effective January 2023. A residential customer who uses 1,000 kWh per month currently pays $75.82 on the base rate portion of their monthly bill. Without the IRA adjustment, the base rate portion on the 1,000 kWh residential bill would be $80.73 effective January 2023. As a result of the IRA adjustment, the base rate portion of the 1,000 kWh residential bill will be $80.11 effective January 2023, an increase of $4.29 from the current $75.82. We have reviewed FPL's tariff sheets and supporting documentation. The calculations are accurate. For that reason, we hereby approve FPL's revised tariffs implementing the IRA base revenue decrease, as shown on Attachment A to this order, effective January 2023, Based on the foregoing, it is ORDERED by the Florida Public Service Commission that Florida Power & Light Company's Amended Petition for approval of refund and rate reduction resulting from implementation of Inflation Reduction Act is hereby approved as stated in the body of this order. It is further ORDERED that the tariff sheets found in Attachment A to this order shall become effective January 1, 2023. It is further ORDERED that at the conclusion of the protest period, if no protest is filed this docket shall be closed upon the issuance of a Consummating Order. If a protest is filed within 21 days of the issuance of this order, the tariffs shall remain in effect, subject to adjustment, pending the resolution of the protest.