Why did Florida Power and Light's revenue drop in Q4 2024?

Florida Power and Light's (FPL) revenue experienced a decrease in the fourth quarter of 2024, primarily due to **Decreased Retail Sales** and **Higher Rate Hike**.

1. **Decreased Retail Sales**: FPL's retail sales experienced a 1.9% increase for the full year 2024 on a weather-normalized basis, but this growth was not sufficient to offset the revenue drop in Q4 2024. The decrease in operating expenses, as reported by Boxlight Corporation, might indicate a broader market trend of cost management, which could have influenced FPL's revenue as well.
2. **Higher Rate Hike**: FPL is seeking a massive $9 billion rate hike, which could have a significant impact on customer bills and potentially lead to a decrease in demand for electricity, especially if customers react negatively to the proposed increase. This could have been a contributing factor to the revenue drop in Q4 2024.

In conclusion, FPL's revenue drop in Q4 2024 can be attributed to a combination of decreased retail sales and the proposed rate hike.