Duke Energy Florida has announced that it will remove the storm cost recovery charge from customers’ bills one month earlier than planned. The charge was implemented to cover approximately $1.1 billion in costs related to the company’s response to hurricanes Debby, Helene, and Milton.
Starting in February, residential customers using 1,000 kilowatt-hours (kWh) of electricity per month can expect their monthly bills to decrease by about $33 compared to January. In March, an additional reduction of around $11 per 1,000 kWh will take effect due to a seasonal adjustment that occurs annually from March through November. As a result, residential bills in March will be roughly $44 lower than they were in January.
Commercial and industrial customers will also see their monthly bills decrease by between 9.6% and 15.8%, with the exact amount depending on various factors.
Melissa Seixas, Duke Energy Florida state president, stated: “We understand all of our customers have been affected by the rising costs of living, many may be facing financial challenges, and some are even having to decide which bills they can afford to pay every month. It was important to us that our customers get this significant rate relief as soon as possible while we continue to deliver the safe, reliable power they expect and deserve.”
In addition to removing the storm recovery charge early, Duke Energy Florida recently made efficiency improvements at several natural gas plants. These upgrades resulted in customer savings of $340 million in fuel costs and translate into a $10 monthly bill reduction for customers. The company also completed three new solar energy sites, leading to an additional $750 million in savings from displaced fuel costs.
Furthermore, Duke Energy Florida passed on $65 million in Inflation Reduction Act tax credits directly to its customers. This provides residential customers with at least $2.50 in savings per 1,000 kWh used.
The company encourages customers who need assistance managing their energy usage or payments to explore available resources and flexible payment plans at duke-energy.com/SeasonalSavings.
Duke Energy Florida serves two million residential, commercial and industrial customers across a 13,000-square-mile area in Florida and is a subsidiary of Duke Energy headquartered in Charlotte, North Carolina.
