Florida Power & Light Company (FPL) has announced that is again planning to reduce its rates by 2016 due to the company's long-term investments in making its plants more efficient, according to a press release issued by FPL.
FPL has already filed the request to reduce rates to the Florida Public Service Commission.
FPL said in the press release that the planned rate reduction will save its typical customers, who consume 1,000-kWh, about $2.50 a month on average.
Businesses can also expect lower rates with savings to be about 2 to 6 percent for typical business customers.
The savings depends on rate class and types of service.
Eric Silagy, president and CEO of FPL, said in the press release that the company's previous "investments in smart technology and focus on productivity" has paid off for its customers.
"While many everyday products and services have gone up in price, FPL rates have actually decreased," he said. "In fact, our typical bill in 2016 will be more than 10 percent lower than it was 10 years ago."
myPalmBeachPost adds that a typical customer today pays about $96.72 a month for their current electric bill.
The estimated rate for 2016 will be at about $94.18, showing a reduction that is more than $2.50.
myPalmBeachPost adds that a typical customer today would have paid about $108.61 a month in 2006 for the same amount of electric consumption.
The 2006 figure doesn't include local taxes or fees, which usually varies.
FPL adds in the press release that their customers are just reaping the benefits of the company's decision to invest in advanced clean energy centers and phase out its older plants.
The investment on these centers uses less fuel to generate electricity.
FPL adds in the press release that since 2001, the company's investments have produced fuel savings of about $7.5 billion to its customers.
The savings are an addition to the savings that are brought about by the low oil prices in recent years.
myPalmBeachPost adds that FPL is projecting that close to 72 percent of its electricity will be generated by natural gas in 2016.
Silagy adds that the company spends close to $3 billion a year on natural gas.
FPL said in the press release that customers can compute for their estimated monthly savings using the company's online calculator.
They just need to input their own monthly usage into the calculator, to estimate their individual monthly savings.
