TAMPA, Fla. (WFLA) — Duke Energy customers can expect a nearly 4% increase in their energy bills starting in April, following the approval of the company’s updated rate hike request.
In January, the company announced plans to recover costs from rising fuel prices and storm restoration repairs by raising rates between 10% and 20% for a predetermined amount of time.
However, on Feb. 27, the company announced an amended rate hike plan to instead raise rates by just under 4%. That plan was later approved by the Florida Public Service Commission (FPSC).
Now, the monthly bill for a typical residential customer using 1,000 kWh will be $171.83 — an increase of $6.28 per month. Most commercial and industrial customers will see bill impacts ranging from a 2% to 3.9% increase.
The new rate will take effect beginning in April and last for a period of 21 months.
“This extended recovery period and updated 2023 fuel cost estimates approved by the FPSC reduce the residential bill impact by $27.21, compared to the January filing,” Duke Energy said in a statement.
The rate hike will also include funds for storm restoration work mostly associated with hurricanes Ian and Nicole.
“We are pleased with the Florida Public Service Commission’s rapid review and approval of the updated fuel and capacity rate request. This provides more immediate relief for our customers,” said Melissa Seixas, Duke Energy Florida state president. “We encourage families who are facing financial hardships and need assistance to reach out to us.”