Florida city approves electric rate hikes, setting up a nearly 16% jump by 2030

Florida’s electric rate hikes, approved in Lakeland, are set to push household power costs toward a nearly 16% increase by 2030. City commissioners voted unanimously on July 20 to raise Lakeland Electric’s base rates by 15.87%, with an initial adjustment starting Oct. 1 and further annual increases through 2030. The monthly customer charge will also rise from $14 to $15.25 in October, climbing to $17.50 by Oct. 2029. For the average residential customer, Lakeland Electric expects total bills to increase about 2.4% per year over the next four years. It projects typical bills near $163.42 in Oct. 2026 and about $175.12 by 2030 if fuel charges stay stable. Commercial impacts are forecast to vary by size, with smaller gains for large users.