On average, Clearwater Beach, FL residents spend about $236 per month on electricity. Unless otherwise noted, all data is a compilation of the most recent 12 months of government released data. is as simple as subtracting the amount you pay for solar from what you would have paid for electricity otherwise. 2023 RESIDENTIAL Final Electric . Customers who consume more than . June 1, 2023. Most FPL customers power their homes for just a few dollars a day. All rights reserved. Are energy-efficient appliances worth it? Electrical and mechanical inspection approved by the local inspector, including details regarding the location and construction of the system. Learn how FPL works to keep your bills low and how you can help. endobj Florida Power & Light ranks 2578th in the US for average monthly bill total. In doing so, the agreement would also unlock a second phase of the company's highly popular and sold-out SolarTogether program more than doubling what's already the largest community solar program in the country across FPL's service area that now spans from Miami to Pensacola1. The US average monthly residential electric bill is $131.84, while the Florida Power & Light average is 16.57% higher at $153.68 per month. The utility claims the program will save a subscriber a good deal of money if they stay in the program for many years. These risks and uncertainties include, but are not limited to, those discussed in this news release and the following: effects of extensive regulation of NextEra Energy's and FPL's business operations; inability of NextEra Energy and FPL to recover in a timely manner any significant amount of costs, a return on certain assets or a reasonable return on invested capital through base rates, cost recovery clauses, other regulatory mechanisms or otherwise; impact of political, regulatory and economic factors on regulatory decisions important to NextEra Energy and FPL; disallowance of cost recovery by FPL based on a finding of imprudent use of derivative instruments; effect of any reductions or modifications to, or elimination of, governmental incentives or policies that support utility scale renewable energy projects of NextEra Energy Resources, LLC and its affiliated entities (NextEra Energy Resources) or the imposition of additional tax laws, policies or assessments on renewable energy; impact of new or revised laws, regulations, interpretations or ballot or regulatory initiatives on NextEra Energy and FPL; capital expenditures, increased operating costs and various liabilities attributable to environmental laws, regulations and other standards applicable to NextEra Energy and FPL; effects on NextEra Energy and FPL of federal or state laws or regulations mandating new or additional limits on the production of greenhouse gas emissions; exposure of NextEra Energy and FPL to significant and increasing compliance costs and substantial monetary penalties and other sanctions as a result of extensive federal regulation of their operations and businesses; effect on NextEra Energy and FPL of changes in tax laws, guidance or policies as well as in judgments and estimates used to determine tax-related asset and liability amounts; impact on NextEra Energy and FPL of adverse results of litigation; effect on NextEra Energy and FPL of failure to proceed with projects under development or inability to complete the construction of (or capital improvements to) electric generation, transmission and distribution facilities, gas infrastructure facilities or other facilities on schedule or within budget; impact on development and operating activities of NextEra Energy and FPL resulting from risks related to project siting, financing, construction, permitting, governmental approvals and the negotiation of project development agreements; risks involved in the operation and maintenance of electric generation, transmission and distribution facilities, gas infrastructure facilities, retail gas distribution system in Florida and other facilities; effect on NextEra Energy and FPL of a lack of growth or slower growth in the number of customers or in customer usage; impact on NextEra Energy and FPL of severe weather and other weather conditions; threats of terrorism and catastrophic events that could result from terrorism, cyberattacks or other attempts to disrupt NextEra Energy's and FPL's business or the businesses of third parties; inability to obtain adequate insurance coverage for protection of NextEra Energy and FPL against significant losses and risk that insurance coverage does not provide protection against all significant losses; a prolonged period of low gas and oil prices could impact NextEra Energy Resources' gas infrastructure business and cause NextEra Energy Resources to delay or cancel certain gas infrastructure projects and could result in certain projects becoming impaired; risk to NextEra Energy Resources of increased operating costs resulting from unfavorable supply costs necessary to provide NextEra Energy Resources' full energy and capacity requirement services; inability or failure by NextEra Energy Resources to manage properly or hedge effectively the commodity risk within its portfolio; effect of reductions in the liquidity of energy markets on NextEra Energy's ability to manage operational risks; effectiveness of NextEra Energy's and FPL's risk management tools associated with their hedging and trading procedures to protect against significant losses, including the effect of unforeseen price variances from historical behavior; impact of unavailability or disruption of power transmission or commodity transportation facilities on sale and delivery of power or natural gas by NextEra Energy, including FPL; exposure of NextEra Energy and FPL to credit and performance risk from customers, hedging counterparties and vendors; failure of NextEra Energy or FPL counterparties to perform under derivative contracts or of requirement for NextEra Energy or FPL to post margin cash collateral under derivative contracts; failure or breach of NextEra Energy's or FPL's information technology systems; risks to NextEra Energy and FPL's retail businesses from compromise of sensitive customer data; losses from volatility in the market values of derivative instruments and limited liquidity in over-the-counter markets; impact of negative publicity; inability of FPL to maintain, negotiate or renegotiate acceptable franchise agreements with municipalities and counties in Florida; occurrence of work strikes or stoppages and increasing personnel costs; NextEra Energy's ability to successfully identify, complete and integrate acquisitions, including the effect of increased competition for acquisitions; environmental, health and financial risks associated with NextEra Energy Resources' and FPL's ownership and operation of nuclear generation facilities; liability of NextEra Energy and FPL for significant retrospective assessments and/or retrospective insurance premiums in the event of an incident at certain nuclear generation facilities; increased operating and capital expenditures and/or reduced revenues at nuclear generation facilities of NextEra Energy or FPL resulting from orders or new regulations of the Nuclear Regulatory Commission; inability to operate any of NextEra Energy Resources' or FPL's owned nuclear generation units through the end of their respective operating licenses; effect of disruptions, uncertainty or volatility in the credit and capital markets or actions by third parties in connection with project-specific or other financing arrangements on NextEra Energy's and FPL's ability to fund their liquidity and capital needs and meet their growth objectives; inability of NextEra Energy, FPL and NextEra Energy Capital Holdings, Inc. to maintain their current credit ratings; impairment of NextEra Energy's and FPL's liquidity from inability of credit providers to fund their credit commitments or to maintain their current credit ratings; poor market performance and other economic factors that could affect NextEra Energy's defined benefit pension plan's funded status; poor market performance and other risks to the asset values of NextEra Energy's and FPL's nuclear decommissioning funds; changes in market value and other risks to certain of NextEra Energy's investments; effect of inability of NextEra Energy subsidiaries to pay upstream dividends or repay funds to NextEra Energy or of NextEra Energy's performance under guarantees of subsidiary obligations on NextEra Energy's ability to meet its financial obligations and to pay dividends on its common stock; the fact that the amount and timing of dividends payable on NextEra Energy's common stock, as well as the dividend policy approved by NextEra Energy's board of directors from time to time, and changes to that policy, are within the sole discretion of NextEra Energy's board of directors and, if declared and paid, dividends may be in amounts that are less than might be expected by shareholders; NextEra Energy Partners, LP's inability to access sources of capital on commercially reasonable terms could have an effect on its ability to consummate future acquisitions and on the value of NextEra Energy's limited partner interest in NextEra Energy Operating Partners, LP; effects of disruptions, uncertainty or volatility in the credit and capital markets on the market price of NextEra Energy's common stock; and the ultimate severity and duration of public health crises, epidemics and pandemics, including the coronavirus pandemic, and its effects on NextEra Energy's or FPL's businesses. Florida Power & Light customers could be paying about 15% more for their electricity by 2025 under a four-year rate proposal the utility plans to submit to the Florida Public Service Commission. The same customer above would earn a larger credit each year for the same amount of production, and they would theoretically begin to save more money on their electric bill. Home solar installations are typically Tier 1. We give you access to transparent information so you can confidently make informed energy decisions. On average, Clearwater Beach, FL residents spend about $235 per month on electricity. This data is not always in agreement with annually released government data due to differences in calculation methods and time periods. For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com. The utility said its four-year plan would increase revenue less than 3.7% a year between 2022 and 2025. The price you pay for electricity your electric rate per kWh depends on numerous factors including (but not limited to) your location, type of building (residential/commercial), usage, general market conditions, market disruptions, etc. In fact, residential bills are projected to grow modestly from 2021-2025 at an average annual rate of 2.5%, which is less than half the rate of inflation over the last 12 months and well below recent price increases in gasoline, housing, used cars and airfare. Also with the start of the new year, NextEra Energy, the parent company of the Juno Beach-based utility, took over the footprint of Gulf Power Company, now known as Florida Power & Light in Northwest Florida. FPL is an investor-owned monopoly, which means that it generates profits for shareholders while state law prevents it from facing marketplace competition. This agreement paves the way for FPL to continue delivering America's best energy value electricity that's not just clean and reliable, but also affordable.". Always verify you can get service from the provider. Effective January 2022* **Except for base charges, all rates and charges under Rate Schedule RS-1 shall apply to RTR-1. quotes. DESTIN, Fla. (WKRG) Florida Power & Light customers will see another increase in their power bills starting in 2023. Copyright 2023, Florida Power & Light Company. Additionally, this data is compiled using known ownership relationships between power plants and electricity providers, while some of these relationships remain unknown. In order to cover a monthly electric bill of $100, you'd need to install around 5.82 kilowatts (kW) of solar in Florida, which would cost about $15,074 before the 30% federal solar tax credit, and $10,522 after. As of June 2017, this was 10.8 cents/kWh for residential customers using less than 1,000 kWh each month. No, FPL does not offer rebates or other solar incentives. But there are also costs. Charge Cost. 2023 monthly increase: 1,000 kWh or less a nearly $5 base rate increase. As part of the proposed settlement agreement, base rate adjustments would vary widely depending on rate class and customer usage. $4.33. Residential customers whose monthly base electric service costs fall below $25 are subject to a minimum $25 base bill. FPL is not the only utility in Florida that offers net metering. How solar helps you save on electric bills, Frequently asked questions about electricity rates and solar, Calculating your savings from investing in solar. Kelly said a full analysis of FPLs proposal wouldnt be possible until the utility submits financial documentation to support it, which is expected sometime in March. * These rates are for most residential and small commercial customers. The following table outlines the average installation costs for different-sized solar systems in Florida: Well, the projections in the tariff show that participants begin to see a net annual savings around Year 4, and by Year 25, each subscribed kW saves a subscriber about $21.72. Under the proposed settlement agreement, a typical 1,000-kWh residential customer bill in Northwest Florida is projected to be lower at the end of 2025 than it is today. The average 25-year savings with a solar loan in Florida is $22,835. endobj Shecan be reached at [email protected] or 561-820-4833. FPL spokesman Christopher Grath said by email that the projected annual revenue increases of less than 3.7% does not necessarily mean that rates will be increased by 3.6% each year. When you sign up on the EnergySage Marketplace, you'll be able to receive and compare solar quotes side-by-side from qualified solar installers in your area. Other components of the proposed settlement agreement include: Information for residential customers The system (unless it has a battery backup) must shut down in the case of an FPL grid outage to prevent feedback into the grid. In the broadest sense, it succeeded. There are 40 counties that receive at least some electricity coverage by Florida Power & Light. Learn more about how our Marketplace works and how we make money. Florida Power & Light's current CEO is Eric Silagy. FPL is strong on the solar power initiative. FPL is also proposing a $0.30/kWh volumetric rate for DCFC stations it will own, and says this is comparable on a cost-per-mile basis to recent gasoline prices as well as what other providers are . Florida Power & Light generates 711,225.5 megawatt hours of electricity (or 0.51% of their total electricity production) from wind turbines. The lawmakers were concerned about whether ratepayer dollars were used, directly or indirectly,toward the scheme. With Tuesday's decision, that number will increase to $120.67, according to the commission. So participating in the first year of the program would cost the customer about $2.67 per kW subscribed more than they would have otherwise paid. On Monday, three more opponents Florida Rising, Environmental Confederation of Southwest Florida and League of United Latin American Citizens of Florida filed a second notice of appeal to the state supreme court to challenge the base rate increase. Calculator, or simply register your property today to get The FPL SolarTogether program is a way for any FPL customer to subscribe to solar energy and receive small bill credits over a term of up to 30 years. Typical business customer bills are projected to grow at an average annual rate of about 1% to 3%from 2021-2025, depending on rate class. Customer charge Non-Fuel Energy Charge: First 1000 KWH Over 1000 KWH Fuel Charge: First 1000 KWH Over 1000 KWH Please note: The total cost will not reflect taxes & credits. Even with the proposed increase, typical business customer bills will remain below the national average through 2025. Learn about the different charges that make up your bill. For example, say a person in Miami subscribes to 4 kW of solar from the SolarTogether Program for $27.04 per month. Electric bills are designed to cover all of the costs of producing the electricity that you use, of running and maintaining the electrical grid to help prevent outages, and of any public benefit funds that promote things like renewable energy and energy efficiency. The solar that we put in are large scale big solar farms that feed the grid for everyone because we are able to do that cost-effectively, meaning it is the lowest cost option. J.R. Kelly, Floridas public counsel, said the requested increase in allowable return on investment would be unreasonable. The easiest way to compare the cost of electricity from one region to another is to look at the electricity rate. Subscription charge: $6.76/kW per month Subscription credit: $0.0342881/kWh Over time, the subscription charge is set to stay at exactly $6.76/kW per month, while the credit rate is set to increase by 1.45% per year. While future rates could change depending on the cost of fuel, the utility estimates based on current prices that the average power bill, again based on1,000 kilowatt hours a month of use, will be $117.92 in 2023, $118.12 in 2024 and $118.38 in 2025.
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