FPL rate increase: Monthly Florida Power & Light rate to increase, but bills will not

TALLAHASSEE, Fla. (AP)--  The typical monthly base rate for Florida Power & Light Co.'s residential customers will increase by $2.59 in January.

The Public Service Commission on Tuesday approved the $246 million annual rate hike. It will pass on costs associated with expanding two nuclear power plants that have become operational. FPL is a unit of NextEra Energy Inc.

The increase more than offsets a $1.65 monthly decrease the commission approved on Monday for nuclear projects not yet completed. That reduction also goes into effect in January.

The figures are for a customer using 1,000 kilowatt hours in a month.

The commission also is considering a proposal to increase base rates by $4.10 in January and $1.74 in June. Overall rates, though, would not increase in January due to fuel savings. The June increase would be about $1.