Florida Power & Light says customers won't have to pay a surcharge for Hurricane Irma restoration efforts -- opposite from what was previously announced.
FPL announced Tuesday that the utility company plans to apply federal tax savings toward the $1.3 billion cost of Hurricane Irma restoration.
FPL estimates that it will save each customer an average of about $250.
The company said it may be able to use future federal tax savings to continue operating under the current base rate agreement for an additional two years. The current agreement covers through 2020.
The company had previously announced its intention to begin recouping its hurricane restoration costs by implementing a surcharge on customers' bills through 2020.