Rates for Duke Energy, Tampa Electric and Energy Company (TECO) and Florida Power and Light (FPL) have increased for Florida customers as of midnight on Jan. 1.
Duke Energy said bills will temporarily increase in January and February by $7.54 for a typical residential customer who uses 1,000 kilowatt-hours (kWh) of electricity.
According to Duke Energy, residential customers’ bills will then decrease by approximately $44 per month starting in March, largely due to the upcoming removal of the company’s storm cost recovery charge.
The storm cost recovery charge is associated with Duke Energy Florida’s response to the 2024 hurricanes, per the energy company's website.
For TECO residential customers, the company said bills will increase by $8.88 per 1,000 kWh due to increases in the base rate, fuel charge and other charges, including tax.
TECO said the base rate increase will pay for projects “that strengthen reliability, harden the grid and expand fuel saving strategies.”
According to the TECO, residential customer bills will then decrease by $19.95 per 1,000 kWh when the company's temporary storm surcharge expires, which paid for hurricane damage restoration.
Back in November, FPL said the typical 1,000-kWh residential customer bill will increase by $2.50 per month for customers in most of Florida, while customers in Northwest Florida will see their bills stay relatively the same.
The FPL rate increase is a four-year agreement setting rates from 2026 to 2029.
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