This bill amends several sections of the Florida Statutes related to the Florida Public Service Commission, focusing on enhancing transparency and accountability in public utilities. It mandates the commission to implement measures such as holding public service hearings, providing access to executive compensation information, and ensuring that public utilities do not recover certain costs from ratepayers, including excessive executive compensation, tax penalties, and lobbying expenses. The commission is also authorized to adopt rules to enforce these provisions and must ensure that the allowable return on equity for public utilities does not exceed national averages.

Additionally, the bill establishes penalties for utilities that improperly recover costs, requiring them to refund such amounts with interest to customers. It introduces a cost-sharing structure for electricity supply costs, ensuring that customers are responsible for no more than 80% of these costs. The commission is directed to develop performance-based rules and regulatory mechanisms to align utility incentives with customer interests, particularly regarding fuel costs and energy efficiency. The bill aims to promote fair and reasonable rates while encouraging the use of renewable energy and efficient systems. The act is set to take effect on July 1, 2026.

Statutes affected:
S 1532 Filed: 366.03, 366.041, 366.07, 366.81, 377.814