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State approves rate hikes for TECO, Duke customers that will take effect in March

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TAMPA, Fla. (WFTS) — The Florida Public Service Commission approved new electric rates for TECO and Duke Energy customers that will go into effect starting in March.

During a Tuesday meeting, the companies said they asked for rate hikes to cover costs related to recent hurricanes and replenish storm reserves.

Under the approved plan, TECO customers will see an increase of $19.95 per 1,000 kWh of electricity on their monthly bills for an 18-month period. The longer period was selected to help reduce the monthly increase.

“Tampa Electric understands that an additional charge is always difficult for customers," the utility said during the Tuesday meeting.

Duke Energy customers, meanwhile, can expect a $32.40 increase on monthly bills for a 12-month period. However, because of a seasonal adjustment, that increase will be reduced by roughly $10 a month through Nov. 2025.

“This is not an easy decision," Commissioner Gary Clark said ahead of the votes. "It’s a tough balance. The residential customers are the ones that typically struggle the most, and they’re the ones that are typically most impacted by the higher costs.”

TECO already had a rate hike take effect in January, which was approved back in December.

As a single mother looking for work, Stephanie Almanzar is exasperated by the rate increase.

“I think it’s absolutely insane," she said. "We are already paying $150 for a one-bedroom apartment here in Hillsborough County.”

Katherine Allen, a Family and Consumer Sciences Agent with the University of Florida Institute of Food and Agricultural Sciences (UF/IFAS) extension in Suwanee County, said customers can reduce their electric bills by making small adjustments.

“Small little things like turning off your lights or using a fan if you’re going to be in the room. Those really are things that make a difference. Changing out your light bulbs to LED. That’s a big savings," Allen said.

She also recommends setting your thermostat five degrees higher when gone from your home for four hours or more, changing your air filters regularly, and being mindful of how cooking can boost your home’s temperature.

“Use the smallest appliance you need to do that job," Allen said.

Learn more cost-saving tips from UF/IFAS here.

As for Almanzar, she’s eating out less to cut her costs, but as bills keep going up, she said she and others are approaching their breaking points.

“I do see more people on the streets with their kids," she said.


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