Ron DeSantis protects FPL corporate profits and sticks taxpayers with the bill

Florida Power & Light (FPL) has gotten its money’s worth from over $3 million in donations to DeSantis, pocketing $1 billion in tax cuts from the DeSantis administration and corporate-friendly legislation that lets them stick Florida consumers with billions in rate hikes.

Recent reports from Jason Garcia’s Seeking Rents outline how Ron DeSantis is jacking up energy bills for Floridians by allowing Florida Power & Light (FPL) to raise rates by a whopping $5 billion, while simultaneously avoiding paying its fair share of corporate taxes.

DeSantis has seemingly done everything in his power to prop up FPL and increase profits for their wealthy stockholders, even as Floridians are already dealing with skyrocketing home insurance costs and the worst affordable housing crisis in the country.

Three years ago, DeSantis’s Public Service Commission approved a $1 billion corporate tax cut to FPL – savings that flowed to FPL’s wealthy stockholders, rather than everyday consumers as they should have. And in 2020, DeSantis helped FPL to raise rates by $5 billion, a Florida record, while raking in more than $3 million from the energy utility’s dark money organizations.

“Ron DeSantis is always looking for opportunities to help out wealthy corporations while sticking Florida taxpayers with the bill, especially for special interests that fund his campaigns and pave the way for him to push for a complete abortion ban. While in office, DeSantis has so far hiked taxes on working Floridians by $1.5 billion, while cutting taxes for corporations by $5.6 billion,” said Florida Democratic Party spokesperson Travis Reuther. “Now, thanks to Ron DeSantis, Florida consumers who are already tightening their belts are bracing for the largest energy rate hike in state history.”

Read more:

Seeking Rents: How Ron DeSantis helped Florida Power & Light raise electricity rates by $5 billion

  • “In fact, no other elected official in Florida did more to help Florida Power & Light land its $5 billion rate increase than DeSantis — who is now running for re-election and who, campaign-finance records show, has raised more than $3 million from FPL”

Seeking Rents: Florida Power & Light pocketed $1 billion in tax cuts for itself. But now it can pass tax increases on to its customers

  • DeSantis’ Public Service Commission allowed FPL to pocket $1 billion in savings from corporate tax cuts — instead of passing those savings on to customers… It’s the sort of thing that makes stories like these make sense.