Duke Energy Florida has announced that it will remove the storm cost recovery charge from customer bills one month earlier than originally planned. This move follows the company’s successful recovery of approximately $1.1 billion in costs associated with its response to hurricanes Debby, Helene, and Milton.
Starting in February, residential customers using 1,000 kilowatt-hours (kWh) of electricity can expect their monthly bills to decrease by about $33 compared to January. Commercial and industrial customers will see reductions ranging from 9.6% to 15.8%, depending on various factors.
“‘We understand that all our customers have been affected by the rising cost of living, many may be facing financial difficulties 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 get 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 will experience an additional reduction of about $11 per month for every 1,000 kWh consumed. This seasonal decrease is part of Duke Energy Florida’s annual adjustment designed to help customers save money during periods of higher energy use. In total, residential bills in March will be around $44 lower than those in January.
The company recently implemented efficiency improvements at several natural gas plants, resulting in $340 million in fuel cost savings for customers—a reduction translating into a $10 monthly bill decrease for residential users. Additionally, three new solar installations have been completed, leading to another $750 million saved through displaced fuel costs.
Duke Energy Florida also transferred $65 million in Inflation Reduction Act tax credits to its customers, providing at least a $2.50 saving per 1,000 kWh for residential users.
The company remains committed to helping its customers manage their energy use and bills by offering practical ways to save energy and flexible payment plans. More information is available at duke-energy.com/SeasonalSavings.
Duke Energy Florida supplies electricity across a 13,000-square-mile service area to two million residents and businesses and owns 12,300 megawatts of capacity statewide. Its parent company Duke Energy serves approximately 8.4 million electric utility customers across six states and operates with a collective owned capacity of 54,800 megawatts.
“‘We understand that all our customers have been affected by the rising cost of living, many may be facing financial difficulties 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 get this significant rate relief as soon as possible while we continue providing the safe and reliable energy they expect and deserve.’”
For more information about Duke Energy’s initiatives or assistance programs, visit duke-energy.com or follow the company on social media platforms such as X (formerly Twitter), LinkedIn, Instagram or Facebook.
