Florida Power & Light, Key Biscayne’s utility provider, is drawing renewed scrutiny after a national analysis found it has the highest profit margins among major investor-owned electric utilities in the country.
According to a recent report analyzing financial filings from more than 100 utilities, FPL posted profit margins of about 27% in 2025, significantly higher than the industry average, where utilities typically retain closer to 13–15% of revenue as profit.
That gap is interesting as electric utilities operate as regulated monopolies, meaning customers generally cannot choose another provider and state regulators approve the rates utilities charge, including how much profit they are allowed to earn…