Duke Energy Florida has announced that the storm cost recovery charge will be removed from customer bills one month earlier than previously scheduled. This change comes after the company was able to recover approximately $1.1 billion in costs associated with hurricanes Debby, Helene, and Milton ahead of plan.
Residential customers can expect their monthly bills to decrease by about $33 starting in February for every 1,000 kilowatt-hours (kWh) used. Commercial and industrial customers will see reductions between 9.6% and 15.8%, though the exact impact will vary based on several factors.
“‘We understand that all our customers have been affected by the rising cost of living, many may be facing economic hardship, and some even have to decide which bills they can afford to pay each month,’ said Melissa Seixas, state president of Duke Energy in Florida. ‘It was important for us that our customers receive this significant rate relief as soon as possible while we continue providing the safe and reliable energy they expect and deserve.’”
Further savings are expected in March when residential customers’ bills will drop by another $11 per 1,000 kWh due to a seasonal adjustment that Duke Energy Florida applies annually from March through November. In total, this means residential bills in March will be about $44 lower compared to January for every 1,000 kWh consumed.
In addition to these changes, Duke Energy Florida recently made efficiency improvements at several natural gas plants resulting in $340 million in fuel cost savings for customers. This translates into an additional $10 reduction on monthly customer bills. The company also completed three new solar installations leading to another $750 million saved on displaced fuel costs.
Duke Energy Florida transferred $65 million in Inflation Reduction Act tax credits directly to its customers, resulting in at least a $2.50 saving per 1,000 kWh for residential users.
The company continues efforts to help customers manage their energy use and offers flexible payment plans along with practical tips for reducing consumption at duke-energy.com/SeasonalSavings.
Duke Energy Florida serves two million residential, commercial, and industrial customers across a 13,000-square-mile area with a generating capacity of 12,300 megawatts. Its parent company Duke Energy is headquartered in Charlotte, North Carolina and provides electricity to about 8.4 million customers across six states.
More information can be found at duke-energy.com or through Duke Energy’s social media channels including X (formerly Twitter), LinkedIn, Instagram and Facebook.
For media inquiries: Aly Raschid is available at any time at 800-559-3853 or via X @DE_AlyRaschid.
