Florida SB 126: Florida Public Service Commission

Bill Text

126 
Florida Public Service Commission 
2025-12-11T11:20:31Z 
Revising the membership of the Florida Public Service Commission; requiring a group of parties to certain proceedings to negotiate the terms of a settlement with the Public Counsel before presenting such settlement to the commission; requiring that orders issued by the commission contain adequate support and rationale for any conclusions made by the commission; authorizing certain persons to make a motion to intervene in a pending commission proceeding; authorizing the commission to fix affordable, in addition to fair, just, and reasonable, rates, etc. 
Committee Substitute 1 
2026 
S 
2026-07-01T00:00:00Z 
GB 
General Bill 
c1 

 Florida Senate - 2026 CS for SB 126 

 By the Committee on Regulated Industries; and Senators Gaetz and 
 Bradley 

 580-01755A-26 2026126c1 
 1 A bill to be entitled 
 2 An act relating to the Florida Public Service 
 3 Commission; amending s. 350.01, F.S.; revising the 
 4 membership of the Florida Public Service Commission; 
 5 creating s. 350.0615, F.S.; requiring a group of 
 6 parties to certain proceedings to negotiate the terms 
 7 of a settlement with the Public Counsel before 
 8 presenting such settlement to the commission; creating 
 9 s. 350.129, F.S.; requiring that orders issued by the 
 10 commission contain adequate support and rationale for 
 11 any conclusions made by the commission; requiring the 
 12 commission to provide an explanation and a discussion 
 13 of major elements and the rationale of the settlement 
 14 when the commission issues an order accepting or 
 15 denying certain settlement agreements; providing that 
 16 the Public Counsel is not a required party to any such 
 17 settlements; prohibiting the commission from approving 
 18 certain settlements that are not negotiated with the 
 19 Public Counsel; creating s. 350.130, F.S.; authorizing 
 20 certain persons to make a motion to intervene in a 
 21 pending commission proceeding; providing requirements 
 22 for an association’s motion to intervene in certain 
 23 commission proceedings; requiring the commission to 
 24 make certain rulings in a specified timeframe to avoid 
 25 certain expenses; creating s. 350.131, F.S.; requiring 
 26 the commission to consider and address the 
 27 affordability of proceedings that have certain 
 28 potential impacts; amending s. 366.06, F.S.; 
 29 authorizing the commission to fix affordable, in 
 30 addition to fair, just, and reasonable, rates; 
 31 requiring that certain applications for changes in 
 32 rates be made according to a certain schedule and 
 33 procedure; requiring that certain requests for a 
 34 change in return on equity be made according to a 
 35 certain schedule and procedure; conforming provisions 
 36 to changes made by the act; providing requirements for 
 37 any financial model used by the commission to set and 
 38 evaluate the return on equity for a public utility; 
 39 requiring the commission to consider and address 
 40 certain financial benefits and reductions of certain 
 41 risks provided by specified cost financing systems or 
 42 other processes when setting and evaluating the return 
 43 on equity for a public utility; amending s. 366.07, 
 44 F.S.; conforming provisions to changes made by the 
 45 act; requiring the commission to establish a schedule 
 46 by which requests for changes to a public utility’s 
 47 return on equity may be submitted to the commission by 
 48 each public utility company; prohibiting the 
 49 commission from accepting certain requests from a 
 50 public utility to modify its return on equity outside 
 51 of its schedule; providing an exception; authorizing a 
 52 public utility to petition the commission to deviate 
 53 from the return on equity revision schedule; requiring 
 54 the commission to grant the petition under certain 
 55 circumstances; requiring the commission to adopt 
 56 rules; creating s. 366.077, F.S.; requiring the 
 57 commission to provide a report to the Governor and the 
 58 Legislature by a specified date annually; providing 
 59 requirements for the report; creating s. 366.8261, 
 60 F.S.; defining terms; requiring the commission to 
 61 permit an electric utility to implement a certain 
 62 charge within a specified timeframe after the electric 
 63 utility files a certain petition, subject to specified 
 64 conditions; requiring the commission to establish a 
 65 recovery period for interim storm-recovery costs, 
 66 based upon a reasonable balancing of certain factors; 
 67 subjecting certain funds to true-up; providing 
 68 construction; requiring the commission to adopt rules; 
 69 amending s. 367.081, F.S.; providing requirements for 
 70 financial models used by the commission in setting and 
 71 evaluating the return on equity for a utility; 
 72 conforming provisions to changes made by the act; 
 73 amending s. 377.814, F.S.; conforming a cross 
 74 reference; providing an effective date. 
 75 
 76 B