Wednesday, January 25, 2023

Don’t be surprised if you see a substantial increase in your electric bill starting in April

Don’t be surprised if you see a substantial increase in your electric bill starting in April.

Duke Energy Florida this week proposed adjustments to its fuel and capacity rates, and recovery of storm restoration costs with the Florida Public Service Commission.

Duke Energy Florida is requesting the recovery of approximately $795 million in net fuel costs, and approximately $442.1 million for storm restoration work, mostly associated with hurricanes Ian and Nicole.

The company does not profit from these increased fuel costs.

The $442.1 million of storm-related restoration costs are associated with Hurricanes Ian, Nicole, Elsa, Eta, Isaias, and Tropical Storm Fred as well as rebuilding their storm reserve for future storms.

The company incurred costs to secure the necessary resources to quickly and safely prepare, respond and restore power.

If approved by the Florida Public Service Commission, the changes will be effective in April 2023.

The monthly bill impact to a typical residential customer using 1,000 kWh will increase $33.49 or about 20% beginning in April.
Commercial and industrial customers will see bill impacts ranging from a 19% to 37% increase.



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