The rising cost of power is squeezing the budgets of many Floridians.
Over the past 10 years, bills have jumped by as much as 70% —far outpacing inflation.
Meanwhile, the four investor-owned utilities that provide electricity to the state made more than $6 billion in profits last year.
Florida’s Public Service Commission signs off on most of the increases, allowing utilities to pass costs directly on to consumers.
Legislators have tried to reform the system, but those attempts have failed, including one this year.
Utilities are expanding their use of solar power and that does reduce fuel costs, but it’s not yet being used to replace fossil fuels.
Over the past several months, reporters Jessica Meszaros, Gabriella Paul and Steve Newborn researched what’s behind rising electricity costs and what — if anything — can be done about them.
Here’s what they found:
Rising electricity prices are part of a statewide trend driven by consecutive rate hikes, high energy consumption, and a system that lets investor-owned utilities pass on costs to customers.
Solar hasn’t necessarily been replacing Florida utilities’ fossil fuel use, the state’s consumer advocate says — it’s actually been used in some cases to bring more fuel online, expanding the grid and your electricity bills.
When utilities want to raise rates or recoup costs, they have to go before the Florida Public Service Commission for approval.