NextEra Energy (NEE) unit Florida Power & Light said Friday it has filed a four-year request to implement new rates once its current base rate deal concludes at the end of 2025.

The proposal was submitted to the Florida Public Service Commission and covers 2026 through 2029, Florida Power & Light said.

Under the rate proposal, a 1,000-kWh residential customer bill would increase to $142.37 in peninsular Florida and to $147.10 in northwest Florida in 2026, from the current $134.14 and $143.60, respectively, according to the electric utility.

Typical small- and medium-size business customer bills would see an average annual rate increase of 1% to 5% from 2025 through 2029 under the proposal, Florida Power & Light said.

NEE shares were 0.5% higher ahead of Friday's opening bell.