Duke Energy Florida announced it will remove the storm cost recovery charge from customer bills one month earlier than planned. This change comes after the company recovered the full amount of approximately $1.1 billion in costs related to hurricanes Debby, Helene, and Milton ahead of schedule.
Starting in February, residential customers using 1,000 kilowatt-hours (kWh) per month can expect their bills to drop by about $33 compared to January. Commercial and industrial customers will see bill reductions between 9.6% and 15.8%, depending on usage and other 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.”
In March, another decrease of around $11 per 1,000 kWh is expected for residential customers due to a seasonal adjustment that occurs annually from March through November. This means that by March, monthly bills for these customers will be roughly $44 lower than they were in January.
The company has also recently implemented efficiency upgrades at its natural gas plants that have saved customers a total of $340 million in fuel costs—an estimated $10 reduction per monthly bill—and completed three new solar energy sites that resulted in an additional $750 million in savings from displaced fuel costs. Duke Energy Florida has passed along $65 million in tax credits from the Inflation Reduction Act as well; this provides 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 expenses through flexible payment plans and resources available at duke-energy.com/SeasonalSavings.
Duke Energy Florida serves two million customers across a 13,000-square-mile area in Florida with a capacity of 12,300 megawatts. Parent company Duke Energy operates electric utilities serving more than eight million customers across six states and continues investing in grid upgrades and cleaner energy sources.
For more information about billing changes or assistance programs, customers are encouraged to visit the company’s website or contact their customer service line.
