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SB 126

AN ACT FOR THE UNIVERSITY OF ARKANSAS AT PINE BLUFF APPROPRIATION FOR THE 2025-2026 FISCAL YEAR.

2025 Regular Session

SB 126 reforms Florida's Public Service Commission by reducing commissioners, enhancing transparency, and ensuring fair utility rates to protect consumers and improve oversight.

Notification that SB126 is now Act 71
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Bill Summary · SB 126

Summary of SB 126: Florida Public Service Commission

Bill Overview

Bill Number: SB 126
Title: Florida Public Service Commission
Introduced: October 07, 2025
Status: Referred to Regulated Industries; Appropriations Committee on Agriculture, Environment, and General Government; Fiscal Policy
Primary Sponsor: Senator Gaetz
Cosponsor: Senator Bradley

SB 126 aims to amend various provisions related to the Florida Public Service Commission (PSC), which regulates public utilities in the state. The bill seeks to enhance transparency, accountability, and fairness in the commission's operations and decision-making processes.

Key Provisions

1. Membership Changes

  • The composition of the Florida Public Service Commission will be revised from seven to five commissioners.
  • At least one commissioner must be a certified public accountant, and another must be a chartered financial analyst.

2. Order Requirements

  • New section 350.129 mandates that all orders issued by the PSC must include adequate support and rationale for the conclusions drawn.
  • For orders affecting substantial interests, the PSC must provide a reasoned explanation and discuss major elements of any settlement agreements accepted or denied.

3. Return on Equity Regulation

  • The bill amends s. 366.06 to ensure that the allowable return on equity for public utilities does not exceed the national average for comparable utilities.

4. Rate Change Requests

  • The PSC is required to establish a schedule for public utility companies to submit rate change requests, ensuring a more organized process.

5. Annual Reporting

  • A new section 366.077 requires the PSC to submit an annual report to the Governor and Legislature by March 1. This report must include:
    • Economic analyses related to rate changes.
    • Potential cost impacts to utility customers.
    • An assessment of returns on equity models used by the PSC.
    • Detailed compensation information for executive officers of public utilities, including comparisons to industry averages.

6. Conforming Amendments

  • The bill includes conforming amendments to existing statutes to align with the new provisions.

Impact

The proposed changes in SB 126 are designed to:
- Increase transparency in the PSC's decision-making process.
- Protect consumers by ensuring that utility rates remain fair and reasonable.
- Hold public utilities accountable for their financial practices and executive compensation.
- Provide the Governor and Legislature with comprehensive data to inform future regulatory decisions.

Procedural Aspects

  • The bill was filed on October 7, 2025, and has been referred to multiple committees for review.
  • The timeline for further legislative action will depend on the committee schedules and discussions.

Conclusion

SB 126 represents a significant step towards reforming the Florida Public Service Commission's operations, aiming to enhance regulatory oversight and protect consumer interests in the utility sector. The bill's focus on transparency and accountability could lead to more equitable utility rates and improved service for Florida residents.

Compiled from official sources — confirm details with the bill’s official record.

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