State regulators approved the refund Tuesday after actual 2024 hurricane restoration costs came in lower than the $1.2 billion FPL was allowed to charge customers.
- Florida Power & Light customers will see a one-month reduction in their base rates after the Florida Public Service Commission approved an $80 million refund Tuesday, the News Service of Florida reports.
The refund comes after regulators approved an initial $1.2 billion storm-restoration charge in December 2024 — which added about $12 a month to the average FPL bill through 2025 — to cover repair costs from Hurricanes Debby, Helene and Milton. That charge was always labeled “interim,” subject to refund once actual costs were finalized.
Utility Regulators Approve Hurricane Recovery Refund
By Jim Turner, The News Service of Florida
TALLAHASSEE — Florida Power & Light customers will receive about $80 million in refunds stemming from charges imposed for storm restoration work from the 2024 hurricane season, state regulators determined Tuesday.
The Public Service Commission approved the refund, which will result in a one-month reduction in base rates to reflect any “revenue over-recovery” charges from the Juno Beach-based FPL, which serves more than 12 million Floridians across 43 counties.
“Maintaining a reliable and resilient electric grid requires continued investment, and the commission’s review helps ensure customers pay only the reasonable and necessary costs of restoring service while supporting a reliable electric system for all Floridians,” PSC Chairwoman Gabriella Passidomo Smith said in a released statement.
The state utility regulators approved the initial $1.2 billion repair charge in December 2024, which added about $12 to the average monthly bill during 2025.
The recovery package aimed to cover power restoration costs for Hurricanes Debby, Helene and Milton. The money also helped replenish a $150 million storm reserve fund.
Much of the projected costs — about $811.1 million — stemmed from restoring power after Hurricane Milton, which made landfall Oct. 9, 2024 as a Category 3 storm in Sarasota County before crossing the state.
FPL put its costs for Hurricane Debby, a Category 1 storm that hit the Big Bend region in early August 2024, at $113.5 million. Hurricane Helene, a Category 3 storm that ran up the west coast before making landfall Sept. 26, 2024 in Taylor County, cost $157.8 million.
The approved package was deemed “interim,” as the commission noted in a release at the time that the charges were subject to a refund, with interest, pending further review once the total actual recovery costs were known.
In an agreement reached between FPL and the state Office of Public Counsel, the restoration work for Milton was later calculated at $774.4 million. The work for Helene came in at $167.6 million and the cost for Debby was $88.3 million.
A similar deal was approved in May for Duke Energy Florida to provide a $90.5 million refund for over-collections from the 2024 hurricane season.
The Duke refund, which started to be imposed in the June billing cycle, was about 56 cents per 1,000 kilowatt hours of use. The payout will continue through September.
After Hurricanes Debby, Helene and Milton struck in 2024, Duke was approved to charge residential customers $33 per 1,000 kilowatt-hours starting in March 2025. The storm-charge was collected through January 2026.
Duke has more than 2 million customers across 35 counties in Florida. The company collected slightly more than $1 billion for storm-related costs that ultimately came to $915.3 million, according to the PSC, spurring the need for the refund.