Duke Energy Florida has announced that the storm cost recovery charge will be removed from customer bills one month earlier than previously planned. The charge, which was related to the company’s response costs totaling approximately $1.1 billion for hurricanes Debby, Helene, and Milton, will no longer appear on bills starting in February.
Residential customers can expect their monthly bills to decrease by about $33 per 1,000 kilowatt-hours (kWh) of electricity used beginning in February. Commercial and industrial customers will also see reductions between 9.6% and 15.8%, depending on various factors.
Melissa Seixas, state president of Duke Energy Florida, said: “We understand that all our customers have been affected by the rising cost of living; many may be facing financial hardship and some even have to decide which bills they can afford to pay each month. It was important to 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.”
In March, residential customers are set to experience an additional reduction of about $11 per 1,000 kWh in their monthly bills due to a seasonal adjustment applied annually from March through November. This means that compared to January, March bills for residential customers will be roughly $44 lower per 1,000 kWh.
The company has recently completed efficiency upgrades at several natural gas plants resulting in fuel cost savings of $340 million for customers. This translates into an additional $10 monthly bill reduction for residential users.
Additionally, three new solar facilities were completed, leading to further customer savings of $750 million by offsetting fuel costs.
Duke Energy Florida has also transferred $65 million in Inflation Reduction Act tax credits to its customers. Residential users benefit from this with at least a $2.50 saving per 1,000 kWh consumed.
While focusing on controlling its own expenses, Duke Energy Florida remains committed to offering practical ways for customers to save energy and manage their bills—including flexible payment plans. More information is available 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 with a generating capacity of 12,300 megawatts.
Duke Energy (NYSE: DUK), headquartered in Charlotte, North Carolina and part of the Fortune 150 group of companies, supplies electricity to about 8.4 million customers across six states and owns a total capacity of 54,800 megawatts nationwide. Its natural gas businesses serve around 1.7 million clients across five states.
The company continues investing in grid improvements and cleaner generation sources—including natural gas, nuclear power, renewables and storage—as part of its ongoing energy transition efforts focused on reliability and value for its clients.
More details can be found at duke-energy.com or through Duke Energy’s official news channels.
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