LOOKING FOR RELIEF FROM SKY-HIGH ENERGY BILLS? FLORIDA ISN’T THE PLACE
With increasing electricity demands combined with spikes in the price for natural gas because of the war in Iran, is your local utility doing anything to keep your electricity rates in check?
“Not much” said David Jenkins, President of Conservatives for Responsible Stewardship. Jenkins says instead of diversifying with cheaper sources of electricity, Florida electric companies are passing the extra costs onto customers by raising their rates.
Jenkins refers to a recent study by the Energy & Policy Institute (EPI) revealing that the profits made by for-profit electric utilities are exorbitant. “Between 2021 and 2024, nearly 40 utilities averaged profit margins above 15 percent, meaning they retained more than 15 cents of every revenue dollar as profit. Some utilities reported even higher margins,” the report said.
According to EPI’s study, Florida Power & Light (FPL) earned a 23.51% during the 2021 to 2024 time period.
Jenkins says the situation is getting worse and the power companies arent making things better.
For most electric utilities in the U.S., a large portion of the electricity they produce comes from natural gas-fired generating plants. They built a bunch of gas-fired power plants back when natural gas prices were bargain basement low.
Now, with over 40 percent of our nation’s electricity produced using natural gas, utilities are overdependent on a fuel that has become significantly more expensive than other options such as nuclear and renewables, including wind and solar.
“There are studies that show the average residential energy bill in 2025 was roughly 30 percent higher than in 2021,” said Jenkins.
Another factor in these rising prices is the fact that most of our nation’s natural gas-fired generation plants are more than 20 years old and costly to operate and maintain.
“There is nothing conservative about the about the monopoly power being held by utilities in states like Florida. All three major utility companies (Florida Power and Light (FPL), Duke, and Tampa Electric) continue to request rate increases and they are rubber-stamped by Florida’s Public Service Commission,” Jenkins said.
