Florida residents can breathe a sigh of relief. In the aftermath of a costly storm season, Florida Power and Light (FPL) has announced that rates will not increase for its customers. In fact, the power giant says they are LOWERING energy costs in Florida.

Questions about repair expenses resulting from Hurricane Irma prompted many to believe that FPL would raise rates. But the company tweeted on Tuesday that Irma damage will not cause them to raise rates.

“Thanks to federal tax savings, your rates won’t go up to pay for Hurricane Irma restoration. We hope to use these tax savings to keep your rates low and stable for years to come.”

In addition, FPL reported that rates for “a 1,000 kWh customer” will see a decrease of $3.35.

We will continue to follow this story and provide more information as it becomes available.