Duke Energy Florida has announced that it will remove the storm cost recovery charge from customers’ bills a month earlier than previously planned. This charge was introduced to cover costs related to the company’s $1.1 billion response to hurricanes Debby, Helene, and Milton.
As a result of this early removal, residential customers using 1,000 kilowatt-hours (kWh) of electricity can expect their monthly bills to decrease by about $33 starting in February compared to January. Commercial and industrial customers will also see reductions ranging from 9.6% to 15.8%, with the exact impact depending on specific usage factors.
Melissa Seixas, Duke Energy Florida state president, said, “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.”
Further bill reductions are expected in March when residential customers will see an additional decrease of about $11 per 1,000 kWh due to Duke Energy Florida’s annual seasonal adjustment for the period between March and November. This means that by March, monthly bills will be approximately $44 lower than in January for typical residential users.
The company has also implemented efficiency improvements at its natural gas plants, resulting in $340 million in fuel cost savings for customers and an additional $10 reduction on monthly bills. Additionally, three new solar energy sites have been completed, providing further savings of $750 million from displaced fuel costs. Customers have also benefited from $65 million in Inflation Reduction Act tax credits passed on by the company, leading to at least $2.50 savings per 1,000 kWh for residential users.
Duke Energy Florida says it remains committed to helping customers manage their energy use and costs through programs such as flexible payment plans and practical energy-saving tips available at duke-energy.com/SeasonalSavings.
Duke Energy Florida is a subsidiary of Duke Energy and supplies electricity across a 13,000-square-mile area in Florida.
For more information about Duke Energy Florida’s services or support options for managing bills, visit duke-energy.com or contact Aly Raschid at 800.559.3853.
