Florida Power & Light Profit Margin - 27 Cents Per Revenue Dollar - Highest In US; Doesn't Include New $7 Billion Hike

Florida Power & Light’s profit margins consistently ranked among the highest in the nation over the past five years and topped other utilities’ in 2024 and 2025, with 27 cents of every dollar in revenue last year retained as profit, according to a new report.

The report, released in March by the Energy & Policy Institute, a watchdog organization, was based on financial data from 110 investor-owned utilities from 2021 through 2024. Data from 2025 also was included for 79 utilities that had reported annual results to the Securities and Exchange Commission in time to be included in the analysis. The findings do not account for a $7 billion rate hike state regulators approved for FPL in November 2025 that consumer groups characterized as the largest in U.S. history. The rate hike faces a legal challenge in state court.

“FPL’s profit margin is like sky-rocketing essentially over that time period in comparison to other Florida utilities,” said Shelby Green, a researcher involved in the Energy & Policy Institute report.
“Customers are seeing rate increases happening every year. They’re looking at their utility bills, and they wonder out of all the lines on here, what can I do to make my rate go down?” she said. “Really where customers can make the most impact is asking the Florida Public Service Commission why utilities are making so much profit when so many Floridians are going without.”FPL did not respond to multiple requests for comment on the analysis. The utility is the largest in Florida, serving 12 million state residents.

EDIT

Some of the utilities examined in the report consistently operated at significantly higher margins. Among them was FPL, which had an average profit margin between 2021 and 2025 of 23.5 percent, second behind MidAmerican Energy’s profit margin of 27 percent. FPL’s margins in 2024 and 2025 were 27 percent, the highest in the nation. In 2025 the margin topped that of SoCalEdison (26 percent); Georgia Power (23 percent); Duke Energy Carolinas (22 percent); and Alabama Power, Public Service Electric & Gas and Virginia Power (tied at 18 percent).

EDIT

https://insideclimatenews.org/news/03042026/florida-power-and-light-highest-profit-margins-nationwide/