FPL recently announced they will not add a planned surcharge to their customer’s bills to cover the cost to repair the damage from Hurricane Irma. Last November, FPL discussed how they were going to pay for the repairs to the grid. Most likely, a hurricane surcharges every month.
Now, they credit the new GOP tax plan as the reason why they don’t need the surcharge anymore. The GOP tax plan includes cuts for many industries across the board and looks like those tax cuts are going to be seen here.
No that doesn’t mean FPL bills are going to be lower.
Back in 2016, FPL and the Florida Public Service Commission agreed to start a four-year-long program. This program plans to upgrade the statewide grid to be more efficient. Base rates will go up to pay for these upgrades and FPL argues the efficiency of the new grid will lower the bill.
They have not stated if they will reduce the rates back to the pre-upgrade price.
If you are an LCEC customer, you don’t have to worry about any of the rate increases. LCEC is a non-profit community co-operative that hasn’t raised rates in over ten years. They are paying for $30 million of repairs by reimbursement from FEMA and postponing future projects.
Hopefully, this news will help you sleep at night.