The bill amends various sections of Florida Statutes related to the Florida Public Service Commission (PSC) to enhance its operations and accountability. It revises the membership of the PSC from five to seven commissioners, requiring that one member be a certified public accountant and another a chartered financial analyst. Additionally, it introduces a new section that mandates all orders issued by the commission to include adequate support and rationale for their conclusions, particularly when accepting or denying settlement agreements. The bill also stipulates that the PSC must ensure the allowable return on equity for public utilities does not exceed the national average and establishes a schedule for rate change requests from public utility companies.

Furthermore, the bill creates a new section requiring the PSC to submit an annual report to the Governor and Legislature by March 1, detailing economic analyses related to rate changes, potential cost impacts on utility customers, and an assessment of executive compensation within public utilities. The report must also benchmark Florida utilities against those in other states. The bill includes a conforming amendment to a cross-reference in existing law and is set to take effect on July 1, 2026.

Statutes affected:
H 187 Filed: 350.01, 366.07, 377.814