TECO, Duke customers can weigh in on proposed rate increases in series of meetings

TAMPA - The Florida Public Service Commission (PSC) is holding public hearings over the next two weeks to allow TECO and Duke Energy customers to give their thoughts on proposed rate increases.

Both utility providers applied for rate hikes in April, leading to pushback from some customers in recent weeks.

Because other portions of the bill are expected to drop, the base-rate adjustment is expected to have only a modest net impact on customer bills. If approved as filed, for 1,000 kilowatt-hours of use, a residential customer’s total bill in January 2025 would be 3 percent higher than what they’ve paid for the first half of this year -- or an increase of about $5 -- to $148.15 a month. Residential rates would remain among the lowest in Florida, below the national average and lower than in 2023.

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TECO argues the proposed rates would have numerous long-term benefits for customers:

• Shorter power outages – and reduced costs to restore them. The company is investing in technology and enhancements to communication systems that enable automatic and remote power restoration.
• Reduced fuel costs from: Improving existing power plants. By improving the efficiency of existing power plants, Tampa Electric can reduce fuel costs and improve overall system efficiency. Increasing renewable energy, such as solar. Since 2017, Tampa Electric's investment in solar energy has saved customers more than $200 million in fuel costs. The company will add another 490 megawatts (MW) of solar capacity by the end of 2026.
• Improving existing power plants. By improving the efficiency of existing power plants, Tampa Electric can reduce fuel costs and improve overall system efficiency.
• Increasing renewable energy, such as solar. Since 2017, Tampa Electric's investment in solar energy has saved customers more than $200 million in fuel costs. The company will add another 490 megawatts (MW) of solar capacity by the end of 2026.
• Enhanced community safety with reliable lighting and other innovative technologies.
• Optimized low-cost energy. The company is adding more than 115 MW of energy-storage capacity -- enough to power about 18,000 homes -- in the next few years. The storage will extend the use of low-cost electricity and can delay the need to invest in new power plants."

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Duke Energy is also looking to invest in its infrastructure by raising base rates by $16.48.

"It will help our customers reduce outages and we're also investing in clean energy," said Duke Energy spokesperson Ana Gibbs. "We're asking to build 14 new solar sites."

Still, overall bills will reportedly decrease, according to Duke.

"There are other types of items on the bill that will be falling off at the end of 2024 and some of those things are some of our storm costs, some of our fuel costs, and some of our purchased power agreements are going to be taken off the bill at the end of 2024," Gibbs said.

The PSC is holding three meetings for TECO customers, listed below:

• Virtual: Monday, June 10, 6 p.m.
• Virtual: Tuesday, June 11, 2:30 p.m.
• In-person: Thursday, June 13, 10 a.m., Hillsborough Community College - Brandon Campus

To register for public comment at a TECO meeting, click here.

Four other meetings are scheduled to address Duke's proposed increases:

• In-person/virtual: Tuesday, June 11, 9:30 a.m., Betty Easley Conference Center, Tallahassee
• In-person: Wednesday, June 12, 10 a.m., Citrus County Auditorium, Inverness
• In-person: Wednesday, June 12, 6 p.m., Parks and Conservation Resources, Largo
• In-person/virtual: Tuesday, June 18, Betty Easley Conference Center, Tallahassee

To register for public comment at a Duke Energy meeting, click here.

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