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 of electricity.
According to the company, 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 associated with Florida’s response to the 2024 hurricanes.
For TECO residential customers, the utility said bills will increase by $8.88 per 1,000 kWh, which the company is 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 company, residential customer bills will then decrease by $19.95 per 1,000 kWh when TECO’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 in most of Florida, while customers in Northwest Florida will see their bills remain relatively the same.
The rate increase is a four-year agreement setting rates from 2026 to 2029, per FPL.
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