"Utility profit margins are one reason why electricity bills are rising, the report says. Advocates say low-income communities are hardest-hit by the costs."
"Florida Power & Light’s profit margins consistently ranked among the highest in the nation over the past five years and topped other utilities’ in 2024 and 2025, with 27 cents of every dollar in revenue last year retained as profit, according to a new report.
The report, released in March by the Energy & Policy Institute, a watchdog organization, was based on financial data from 110 investor-owned utilities from 2021 through 2024. Data from 2025 also was included for 79 utilities that had reported annual results to the Securities and Exchange Commission in time to be included in the analysis. The findings do not account for a $7 billion rate hike state regulators approved for FPL in November 2025 that consumer groups characterized as the largest in U.S. history. The rate hike faces a legal challenge in state court.
“FPL’s profit margin is like sky-rocketing essentially over that time period in comparison to other Florida utilities,” said Shelby Green, a researcher involved in the Energy & Policy Institute report.
“Customers are seeing rate increases happening every year. They’re looking at their utility bills, and they wonder out of all the lines on here, what can I do to make my rate go down?” she said. “Really where customers can make the most impact is asking the Florida Public Service Commission why utilities are making so much profit when so many Floridians are going without.”"
