TALLAHASSEE, Florida — Florida public utility regulators Tuesday agreed to let the state’s largest power company charge customers nearly $1.2 billion to cover losses unleashed by a trio of hurricanes this year.
The state Public Service Commission, meeting in Tallahassee, unanimously approved an interim storm restoration proposal from Florida Power & Light that is expected to trigger rate increases of about $12 per month for average residential customers through 2025.
Tuesday’s move gave final approval to a request from FPL in October to charge some 5.9 million customers after restoring power to more than 3 million homes and businesses after hurricanes Debby, Helene and Milton rocked Florida.
The funds will be used to cover recovery expenses and replenish a reserve account to pay for storm damages.
