TAMPA, Fla. — In just a couple of months, it could be a little cheaper to leave the lights on. Both Tampa Electric (TECO) and Duke Energy are hoping to reduce energy rates next year.
Record high temperatures this summer have really driven up the electric bills. We are all feeling the shock of seeing just how much it costs to keep the air conditioner running. But relief should be on the way — the Florida Public Service Commission is meeting Wednesday morning to set rates. Both TECO and Duke Energy are asking for lower rates that would affect customers' bills.
For the average TECO customer, it would be an 11% decrease. That means the typical monthly bill would drop about $18. For Duke Energy customers, it would be a 7% rate reduction, meaning the average bill would go down about $12 a month.
Back in August, TECO leaders said that fuel costs have gone down since 2022 meaning lower electricity bills are anticipated for 2024. For example, residential customers who use 1,000 kilowatt hours (kWh) of electricity will see their bill decrease by $17.65 – making the total come out to $143.48.
Similarly, Duke Energy leaders said it is working to provide the "best possible price" to customers. Residential customers who use 1,000 kWh should see a decrease of about $11.29 when they open their January 2024 bill compared to December's statement, the utility said.
If approved, the rate decreases will happen in January. However, for some people, that's still too long a wait for relief as they may still be having financial difficulties. If you are having trouble paying your electric or gas bills, reach out to TECO or Duke Energy for information on programs and payment options that can help.