Florida Power & Light customers to see bills rise in 2023

Miami residents will notice their electric bills increase in the new year.

What's happening: Florida Power and Light customers' 1,000-kilowatt-hour bills will rise from the current price of $120 to $125 in January — and then to $129 in February, the Miami Herald reports.

• Prices are projected to increase due to a "previously approved base rate adjustment," along with higher fuel prices, FPL says on its website.

Why it matters: FPL customers already saw a significant hike last January, when a typical bill of $101 jumped to $120, according to the Palm Beach Post.

• Plus: Despite signs of easing inflation, consumers are still facing painfully high price pressures. And these added costs could catch some by surprise — especially if you're planning to light up your house like the Rockefeller Center.

Between the lines: FPL — which services Miami-Dade, Broward and Palm Beach counties, along with most of Florida's eastern coast — says the price of natural gas, which it uses to power its plants, is up more than 75% compared with last year. It's at its highest since 2008.

What we're watching: Your bill will probably increase again in the spring, the Herald reports.

• FPL says its fuel costs from 2022 exceeded projections, so the utility will file a “mid-course fuel correction” by early 2023 to adjust rates.

• “The market for natural gas is unusually volatile right now,” FPL says on its website. “That means while we provided estimates for your 2023 bill, we know that those estimates are likely to change.”mates for your 2023 bill, we know that those estimates are likely to change."

Some tips: FPL says the best way to lower your bill is to save energy. The company offers tips on its website, like switching to LED holiday lights and turning off your ceiling fan when you leave the room.