This bill amends various sections of Florida Statutes related to the Florida Public Service Commission (PSC) and introduces new requirements aimed at enhancing transparency and accountability. It revises the membership of the PSC from five to seven commissioners, mandating that one member be a certified public accountant and another a chartered financial analyst. Additionally, it creates a new section requiring that all orders issued by the PSC include adequate support and rationale for their conclusions, particularly when accepting or denying settlement agreements. The bill also stipulates that the PSC must ensure that the allowable return on equity for public utilities does not exceed the national average for comparable utilities.

Furthermore, the bill establishes a schedule for public utility companies to submit rate change requests and mandates the PSC to submit an annual report to the Governor and Legislature by March 1. This report will include analyses of economic impacts related to rate changes, assessments of returns on equity models, and detailed information on executive compensation within public utilities. The bill aims to improve the regulatory framework governing public utilities in Florida, ensuring that decisions are well-supported and that the interests of consumers are prioritized. The effective date for these changes is set for July 1, 2026.

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