Duke Energy customers see rate cut in 2016

Duke Energy’s Florida customers will start 2016 with lower electric rates.

Starting this month, Duke Energy residential customers will pay $114.15 per 1,000 kWh, which is 6 percent lower than the final 2015 rate of $121.59.

This is the third price reduction in two years.

Business customers will also see rate reductions compared with current rates, depending on a number of factors including rate class and type of service.

The rate decrease is due mainly to lower natural gas prices, which are the primary driver for the more than 20 percent decrease in retail fuel costs.

The company makes no profit from the fuel component of rates.

Gulf Power customers will also see a cut in their electric bills this year.

Their rates will drop from nearly 140 dollars to just under 136 dollars for 1000 kilowatt hours of electricity.

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