The bill amends various sections of the Florida Statutes concerning the Florida Public Service Commission (PSC) and introduces significant changes to enhance the regulation of public utilities. One of the key changes is the expansion of the PSC's membership from five to seven commissioners, with specific qualifications required for two of the members. The bill also mandates that parties involved in certain proceedings negotiate settlement terms with the Public Counsel prior to presenting them to the commission. Furthermore, it requires that all commission orders include adequate support and rationale for their conclusions, particularly regarding settlement agreements.

Additional provisions include a structured schedule for public utilities to submit requests for changes to their return on equity, with strict guidelines on the timing of such requests. The commission is tasked with considering affordability in its proceedings and must provide an annual report to the Governor and Legislature on economic analyses related to rate changes and utility executive compensation. The bill also introduces a new section for interim storm-recovery costs, allowing electric utilities to implement a storm-recovery charge within 60 days of filing a petition, subject to certain conditions. It emphasizes that rates set by the commission must be affordable and reasonable, prohibits the inclusion of contributions-in-aid-of-construction in rate bases, and modifies funding provisions for the Municipal Solid Waste-to-Energy Program. The act is set to take effect on July 1, 2026.

Statutes affected:
S 126 Filed: 350.01, 366.07, 377.814
S 126 c1: 350.01, 366.07, 377.814