In this episode: Florida Power & Light recently won permission to raise electricity rates by at least $7 billion over the next four years. It appears to be the largest electric rate hike in American history. In this episode, we explain why this increase is so big, how FPL pulled it off, and who should be held accountable.

Editor’s note: A written version of this story first appeared in the Seeking Rents newsletter: Florida just approved the largest electric rate increase in history. Here’s how it happened.

Show notes

Check out some of Seeking Rents’ previous coverage of Florida Power & Light and utility regulation in Florida:

Inside the $5 billion deal that Gov. Ron DeSantis’ political appointees gave to Florida Power & Light (August 2022)

Florida Power & Light pocketed $1 billion in tax cuts for itself. But now it can pass tax increases on to its customers (August 2022)

How Ron DeSantis helped Florida Power & Light raise electricity rates by $5 billion (September 2022)

A power company wants to take $1 billion from Florida customers. It just gave $3 million to Florida politicians. (November 2022)

Customers took Florida’s biggest power company to court. Ron DeSantis and lawmakers stepped up to help...the power company. (July 2023)

As his campaign runs low on cash, DeSantis turns to big Florida businesses for help (October 2023)

Ron DeSantis just re-stacked the deck on the board that sets electricity rates in Florida (October 2025)

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