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ORDER NO. PSC -2025 -0120 -PCO -El
<br />DOCKET NO. 2025001 I -El
<br />PAGE 2
<br />In FPL's most recent base rate proceeding, Docket No. 20210015 -El, we approved a
<br />settlement agreement which authorized a revenue increase of $692 million effective January 1,
<br />2022, and a revenue increase of $560 million effective January 1, 2023.1 The settlement
<br />agreement provided that retail base rates, with certain exceptions, would be frozen through the
<br />last billing cycle in December 2025. Section 16(g) of the settlement agreement permitted FPL to
<br />continue to amortize its RSAM beyond December 31, 2025, if the Company provided notice to
<br />the Parties of the settlement agreement, prior to March 31, 2025, that it did not intend to seek a
<br />base rate increase with an effective date prior to January 1, 2027.2 FPL did not exercise this
<br />option.
<br />On January 15, 2025, we acknowledged the Office of Public Counsel's notice of
<br />intervention in this proceeding.' On March 17, 2025, the Commission granted, petitions to
<br />intervene filed by Florida Rising, Inc., League of United Latin American Citizens of Florida, and
<br />Environmental Confederation of Southwest Florida, Inc.; Florida Industrial Power Users Group;
<br />Southern Alliance for Clean Energy; and Florida Executive Agencies. A hearing has been
<br />scheduled for August 11 -22, 2025.
<br />This order addresses the suspension of the requested permanent rate increase. We have
<br />jurisdiction over this matter pursuant to Sections 366,06(2) and (4), F.S.
<br />Decision
<br />FPL filed its petition, testimony, and minimum filing requirements on February 28, 2025,
<br />The Company has requested an increase in its retail rates and charges to generate $1.55 billion in
<br />additional gross annual revenue, effective January 1, 2026. FPL also has requested an increase in
<br />its retail rates and charges to generate $927 million in additional gross annual revenue, effective
<br />January 1, 2027. Further, FPL has requested SoBRAs of approximately $296 million and $266
<br />million for 2028 and 2029, respectively.
<br />Historically, we have suspended requested permanent rate schedules in order to
<br />adequately and thoroughly examine the basis for the new rates. Suspension of a requested rate
<br />increase is authorized by Section 366.06(3), F.S., which provides:
<br />Pending a final order by the commission in any rate proceeding under this section,
<br />the commission may withhold consent to the operation of all or any portion of the
<br />new rate schedules, delivering to the utility requesting such increase, within 60 days,
<br />a reason or written statement of good cause for withholding its consent.
<br />We find good cause consistent with the requirements of Section 366.06(3), F.S., exists in
<br />this docket. Therefore, we hereby suspend the requested permanent rate schedules to allow staff
<br />'Order No. PSC -2021 -0446 -S -EI, issued December 2, 2021, in Docket No. 20210015 -El, In re: Petition for rate
<br />increase by Florida Power & Light Company; Supplemental Order No. PSC-2024-0078-FOF-El, issued March 25,
<br />2024, in Docket No. 20210015 -El, In re: Petition far rate increase by Florida Power & Light Company.
<br />'Id.
<br />'Order No. PSC -2025 -0020 -PCO -EI, issued January 15, 2025, in Docket No. 20250011 -EI, In re: Petition for rate
<br />increase by Florida Power & Light Company.
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