Duke Energy Florida has notified the Florida Public Service Commission of its intent to file a rate case in April that proposes investments to increase generation unit efficiency, reduce outages and expand solar generation as part of increased base rates taking effect in January 2025.
The company is requesting an average annual base rate increase of approximately 4 percent during 2025 through 2027.
Even with the requested base rate increase, the company expects overall customer bills to decrease in 2025. The 2022 fuel under-recovery, storm restoration cost recovery and legacy purchased power contracts will expire year-end 2024, which will lower overall bills in 2025.
The rate request delivers the smarter energy future customers deserve while providing price stability and certainty. The proposed investments will decrease outages and shorten restoration times for customers and communities, while reducing emissions at a reasonable cost.
As the energy industry continues to evolve, Duke Energy Florida must anticipate changes driven by population growth, technological advancements and customer expectations.
“This proposal offers what our customers want – a more reliable energy system using cleaner energy,” said Melissa Seixas, Duke Energy Florida state president. “We are focused on making smart energy investments that leverage innovative technology to increase power plant efficiency and reduce outages.”