In response to the extensive damage caused by Hurricanes Debby, Helene, and Milton during the 2024 hurricane season, the Florida Public Service Commission (PSC) has approved Florida Power & Light Company’s (FPL) request to implement a $1.2 billion interim storm restoration charge.
This decision will result in an approximate $12.02 monthly increase for residential customers consuming 1,000 kilowatt-hours, effective from January 1 through December 31, 2025.
The approved charges encompass $113.5 million for Hurricane Debby, $157.8 million for Hurricane Helene, and $811.1 million for Hurricane Milton. Additionally, the PSC has sanctioned FPL’s request to replenish its storm reserve fund with $150 million, which was significantly depleted by Hurricane Idalia in 2023 and further exhausted after Hurricane Debby.
These interim charges are subject to refund, with interest, pending a comprehensive review once the actual restoration costs are finalized. FPL’s 2021 Settlement Agreement permits the utility to recover hurricane-related expenses and maintain a storm reserve fund, forming the basis for this petition.
The 2024 hurricane season inflicted over 3 million combined outages among FPL customers, attributed to destructive winds, storm surges, and, notably during Hurricane Milton, numerous powerful, long-track tornadoes. FPL mobilized a substantial restoration workforce, including assistance from 41 states and Canada, to expedite power restoration efforts.
Despite the temporary surcharge, FPL asserts that its 2025 bills will remain below the national average. The utility emphasizes that investments in storm hardening and smart grid technology have mitigated outages and accelerated restoration processes, ultimately benefiting customers by reducing overall restoration costs.
It’s important to note that other utilities, such as Duke Energy Florida and Tampa Electric Co., are also expected to seek recovery for hurricane-related costs, potentially impacting customer rates in the near future.
As the actual restoration expenses are assessed, the PSC will conduct further reviews to ensure transparency and accuracy in the charges passed on to consumers.
