With rates among the lowest in the nation, our typical 1,000-kWh residential customer bill today is lower than it was 10 years ago – down more than 15 percent compared with 2006 rates. At the same time, our service ranks among the cleanest and most reliable in the country.
Saving Customers Money Through Efficient Service
At FPL, we’re committed to operating efficiently in order to deliver reliable service and save customers money. We rank No. 1 among major U.S. utilities based on our [low] nonfuel operating and maintenance (O&M) costs per kilowatt-hour of retail sales. Compared with what an average utility in the U.S. would spend to serve its customers, our innovative practices and relentless focus on operating efficiently save our customers nearly $2 billion per year. That’s a savings of about $17 a month on a typical customer’s bill, or more than $200 per year that stays in customers’ pockets.
Continuing to Invest in Improvements for Customers
At FPL, we’re investing billions of dollars annually in infrastructure investments to serve the growing needs of Florida’s economy, strengthen the electric grid, advance affordable clean energy and more.
In particular, we’re increased our focus in recent years on further improving the reliability and resiliency of our grid – the power delivery infrastructure that transports electricity from power plants to millions of customers’ homes and businesses. Although FPL’s service reliability ranks approximately 44 percent better than the national average, we continue to invest to make our grid stronger, smarter and more responsive to reduce day-to-day outages, shorten restoration times and prepare for severe weather. Our grid-strengthening initiatives began in 2006 and incorporate lessons learned from major storms, such as 2012’s Superstorm Sandy. Strengthened power lines and related infrastructure are designed to reduce outages, restore power for customers faster, and help local communities recover more quickly when severe weather strikes.
Modernizing Our Power Plants
Another key element of our long-term strategy is the continued modernization of our power generation system, which has one of the cleanest emission profiles among comparable utilities nationwide. This includes smart, cost-effective investments such as the replacement of 1960s-era quick-start peaking units, upgrades to some existing combustion turbines and the addition of three large-scale solar energy centers in 2016. As other generation improvements FPL has made in recent years have demonstrated, these investments are projected to generate substantial savings over the long term by reducing fuel and other costs. These investments are also environmentally friendly and will further improve FPL’s industry-leading emissions profile.
The FPL Okeechobee Clean Energy Center, which is expected to begin serving customers in mid-2019, will use high-efficiency, combined-cycle natural gas technology to meet customers’ growing energy needs. In fact, when complete this new energy center will be one of the cleanest, most efficient plants of its kind in the world.
Making Our Grid Smarter
We’re investing in advanced smart grid technology and exploring emerging technologies, including small unmanned aircraft systems (sUAS) that help make the grid smarter and improve service for our customers. Smart grid upgrades help prevent power problems and, if your lights go out, help us get them back on faster. These technologies, including smart meters and automated switches:
- Help identify and diagnose equipment issues early so we can service them proactively, preventing many outages before they occur.
- Automatically reroute electricity around trouble spots, confining outages to smaller areas.
- Pinpoint the location of outages quickly – often before customers call to report them – so we can restore power faster.
We expect that our strategy and investments in strengthening the grid and in preparing for storms will further our position to deliver superior customer value.
At FPL, we're delivering the most affordable electric service in Florida and great reliability, with one of the most modern, clean, fuel-efficient and low-carbon generation fleets in the nation.