As a retiree on a fixed income living in Sunrise, Marcia Ellis thinks in dollars and cents and kilowatt hours.
“I watch how I cook. I’ve gotten an air fryer, which uses less heat. I don’t use my oven as much. I’m not cooking one potato in an oven,” Ellis said.
And she said she will have to adjust her electricity usage again when Florida Power & Light’s latest rate hike takes effect next year.
Ellis said she will pay for two different rate increases, one for her condo’s electricity and one for her building’s.
She said her condo association already budgeted for a potential FPL rate hike ahead of time with higher monthly maintenance fees.
“You have to pick and choose how you’re gonna live now,” Ellis said. “Retired people didn’t plan on this when they retired. They just wanted to relax and enjoy the rest of the time they had on earth.”
The Florida Public Service Commission said that in peninsular Florida, the rate hikes will increase the typical 1,000 kWh customer bill by $2.50 a month starting in 2026. FPL said rates will increase 2% each year until 2029.
Franklin Gay is a certified financial planner. He said these higher expenses can be harder for retirees.
But he said anyone can plan for them by putting money aside for an emergency fund.
He said the set rate increases over the next four years are actually easier to plan for, since there won’t be any surprises.
“Now you can start stashing away some of those funds and make concessions for that within your current spending,” Gay said.
Ellis said she can only plan one year at a time.
“Who knows what’s gonna happen till 2029. I’ll be in my nineties by then. Maybe I won’t care,” Ellis said.
FPL said that if you ever want to find ways to lower your bill, they offer what’s called a free home energy survey. FPL will send someone to your home, assess your usage and offer tips and solutions.
