Published: Aug 20, 2010 4:52 PM EDT
Updated: Aug 20, 2010 1:52 PM EDT

TALLAHASSEE, Fla. (AP) - Florida Power and Light has agreed to freeze its base rates through 2012.

The Attorney General's Office and the Florida Office of Public Counsel announced the decision Friday.

FPL had requested a rate increase to fund new construction. The agreement says those costs will be offset by a decrease in fuel costs.

The deal requires the approval of the Public Service Commission. FPL will have to petition that body for any base rate increases after 2012.