Florida Energy Bills Rose 70 Percent Over Decade
Major investor-owned utilities in Florida saw profits exceed $6 billion during the last year.
Updated on Oct. 9, 2026 in Utilities
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Electricity bills for Florida residents increased by 70% over the past decade. Four major investor-owned utilities earned more than $6 billion in profits last year while navigating a state energy mix heavily reliant on natural gas.
Why it matters
Utilities in Florida are permitted to pass capital expenditures for projects onto consumers, incentivizing infrastructure expansion. This pricing structure, combined with high electricity consumption, has fueled consistent rate hikes across the state.
Florida's four major investor-owned utilities reported over $6 billion in combined profits last year. The state energy mix currently derives between 75% and 90% of its power from natural gas, compared to approximately 10% from solar sources.
The players
Florida Public Service Commission
This regulatory body consists of five governor-appointed commissioners who oversee utility rate requests.
Florida Power & Light
This major utility company holds the highest return on equity among all major utility providers in the United States.
The details
Utilities utilize pass-through costs and surcharges to increase prices while expanding their rate base to account for Florida's population growth. While Florida Power & Light maintains the highest return on equity among major U.S. utilities, grid stabilization efforts often require additional natural gas combustion when solar energy is unavailable.
Timeline
Electricity bills rose by 70% over the past 10 years.
Investor-owned utilities earned $6 billion in profits last year.
Market Landscape
The utility sector in Florida operates under a regulatory framework that encourages infrastructure investment through guaranteed returns. This environment differs from municipal-led models seen in cities like Saint Petersburg, which have explored alternatives to the dominant investor-owned utility structure.
Residents may see monthly power bills reach between $200 and $300 as utilities continue to request rate adjustments every three years. Consumers face higher costs driven by the state's reliance on natural gas and the industry's ability to pass infrastructure expenses to the public.
The takeaway
Florida residents looking to manage rising utility costs may investigate the energy mix of their local providers. Understanding the three-year rate cycle allows households to better anticipate potential changes in their monthly expenses.
Further reading
For more information on energy regulation and market trends, visit Utilities.
Source note: This article includes information reported by WUSF.
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