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, the bill mandates that all orders issued by the PSC must include adequate support and rationale for their conclusions, particularly when accepting or denying settlement agreements. It also establishes a requirement for the PSC to ensure that the allowable return on equity for public utilities does not exceed the national average for comparable utilities.

Furthermore, the bill introduces a new section that requires 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. Other amendments include the establishment of a schedule for public utility companies to submit rate change requests and a conforming cross-reference in the Municipal Solid Waste-to-Energy Program section. The act is set to take effect on July 1, 2026.

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