Florida
Utility Profitability Debate Heats Up Among Florida Gubernatorial Candidates
TAMPA — Among the policy proposals that David Jolly is offering in his campaign for governor is a declaration that he wants to cap the return on investment (ROI) Florida’s major electric utilities are allowed to gather from customers to…
Key points
- Byron Donalds received an endorsement from the Florida Chamber of Commerce.
- David Jolly proposed capping utility profits to align with national averages.
- The debate over utility rates directly impacts local residents’ energy costs.
TAMPA NewsWK — Pensacola residents may find the ongoing debate among Florida’s gubernatorial candidates particularly relevant, especially in light of recent utility rate hikes affecting their energy bills. On June 23, 2026, U.S. Rep. Byron Donalds received an endorsement from the Florida Chamber of Commerce in Tampa, where the topic of utility profitability became a focal point.
David Jolly, one of Donalds’ competitors in the Republican primary, proposed a cap on the return on investment (ROI) for Florida’s major electric utilities, aiming to align them with the national average. This proposal gained traction after the Florida Public Service Commission approved a significant $6.9 billion rate increase for Florida Power & Light, which included a 10.95% ROI, higher than the national average of around 9.7%, according to Synapse Energy Economics Inc.
During a press conference, Donalds dismissed Jolly’s plan, expressing concerns that implementing such caps would negatively impact service quality. “A cap might sound good politically, but it’s a terrible solution,” he stated. He likened the potential consequences to rent control measures in New York City, suggesting that capping utility returns could degrade service and hinder necessary investments in the electric grid.
In response, Jolly criticized Donalds for supporting what he termed the highest utility rate increase in American history, stating, “I’m glad to see Byron is honest with the voters that he supports… what happened to Florida consumers and that’s what he’s now defending.” Consumer advocacy groups have voiced strong opposition to the FPL rate hike, calling it unprecedented.
While Donalds advocates for innovative energy solutions, such as small modular nuclear reactors and natural gas pipelines, Jolly is promoting greater integration of renewable energy sources into Florida’s public utilities. This debate over energy policy is critical for local residents, as decisions made by state leaders will directly affect energy costs and reliability in Escambia County.
As the primary approaches, Donalds indicated he is unlikely to participate in debates unless his competitors improve their polling numbers. “If they were viable… we would debate tomorrow. I would not hesitate,” he remarked, emphasizing his current lead in the polls.
This article was produced with the assistance of AI and reviewed by our editorial team.
Based on reporting originally published by Florida Phoenix. Read the original story.
