FPL plans to cut May bills

Buoyed by lower-thanexpected natural-gas costs, Florida Power & Light plans to slash May electric bills as customers grapple with the novel coronavirus.

Utilities are required to pass along savings to customers when power-plant fuel costs drop, but those savings typically show up on bills over a series of months. FPL’s plan, announced Monday, would lump together fuel savings this year into a one-time bill reduction in May. The plan needs approval from the Florida Public Service Commission, and a detailed proposal is expected to be filed with the regulatory panel this week.

“Traditionally, our regulators expect these types of savings to be spread out over the balance of the year,”

FPL President and Chief Executive Officer Eric Silagy said in a prepared statement Monday. “However, challenging times call for exceptional measures. I believe this one-time bill decrease is the most effective way to infuse customers with muchneeded money as we all navigate through this difficult and unsettling time together.”

FPL said residential customers who use 1,000 kilowatt hours of electricity a month would see their bills go from the current $96.04 a month to about $74 in

May. Such bills would return to a more-normal $96.43 in June, which also would reflect a small charge that had previously been planned for solar-energy projects.

Utilities typically use 1,000-kilowattt hour residential bills as a benchmark, though electricity use varies widely. Also, FPL’s business customers would receive a one-time savings in May, though commercial rates are designed differently than residential rates.