Duke Energy Florida has announced that it will remove the storm cost recovery charge from customer bills one month earlier than planned. This change follows the company’s recovery of approximately $1.1 billion in costs related to its response to hurricanes Debby, Helene, and Milton.
Starting in February, residential customers can expect their monthly bills to decrease by about $33 for every 1,000 kilowatt-hours (kWh) used compared to January. Commercial and industrial customers will see reductions ranging from 9.6% to 15.8%, with the exact impact depending on various factors.
Melissa Seixas, state president of Duke Energy in Florida, said: “We understand that all our customers have been affected by the rising cost of living, many may be facing economic difficulties and some even have to decide which bills they can afford to pay each month. For us it was important that our customers get this significant rate relief as soon as possible while we continue providing the safe and reliable energy they expect and deserve.”
In March, residential customers are set for another reduction of around $11 per 1,000 kWh due to a seasonal adjustment that Duke Energy Florida applies annually from March through November. As a result, March bills will be approximately $44 lower than those in January for every 1,000 kWh used.
The company has also implemented several initiatives aimed at reducing costs for its customers:
– Efficiency improvements at many natural gas plants resulted in fuel savings of $340 million for customers.
– The completion of three new solar facilities contributed an additional $750 million in savings through displaced fuel costs.
– Duke Energy Florida transferred $65 million in Inflation Reduction Act tax credits to its customers.
These measures together provide further monthly bill reductions for residential users.
Duke Energy Florida continues efforts to help customers manage their energy use and bills by offering practical savings programs and flexible payment plans. More information is available at duke-energy.com/SeasonalSavings.
Duke Energy Florida serves two million residential, commercial, and industrial clients across a 13,000-square-mile area with a total generating capacity of 12,300 megawatts. Its parent company Duke Energy supplies electricity to about 8.4 million U.S. customers across six states and is investing heavily in grid upgrades and cleaner energy sources as part of its ongoing transition toward smarter energy solutions.
Further details can be found at duke-energy.com or through Duke Energy’s social media channels.
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