Duke Energy Florida has announced that the storm cost recovery charge – the result of costs associated with the company’s approximately $1.1 billion response to hurricanes Debby, Helene and Milton – will be removed from customers’ bills a month earlier than originally scheduled.
What this means
Because the full amount for all three storms was recovered ahead of schedule, beginning in February (instead of March):
- Residential customers can expect an approximately $33 reduction on their monthly bills, when compared to January, for every 1,000 kilowatt-hours (kWh) of electricity they use.
- Commercial and industrial customers’ monthly bills will be lowered between 9.6% and 15.8%, also when compared to January, though the specific impact will vary depending on several factors.
“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,” said Melissa Seixas, Duke Energy Florida state president. “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.”
More savings coming soon
In March, residential customers will experience another approximately $11 decrease (per 1,000 kWh) on their monthly bills, reflecting a seasonal decrease that Duke Energy Florida institutes annually (March-November) to help customers save money during times when energy use is typically higher.
This means, when compared to January, their March bills will be approximately $44 lower – again, per 1,000 kWh.