(The Center Square) – Florida regulators are a step closer to coming to a final decision over a proposed rate hike by one of the Sunshine State’s largest electricity providers.
The Florida Public Service Commission (PSC) held a prehearing conference on Aug. 8 on a petition filed by Tampa Electric Company (TECO) to increase its base rates for over 810,000 commercial, residential and industrial customers in Pinellas, Polk, Pasco and Hillsborough counties.
If approved, the proposed rate hikes would take effect on Jan. 1, 2025 and will add $17.46 to a residential customer’s monthly bill if they use around 1,000 kilowatt hours of electricity. In January 2026, the average monthly bill for 1,000 kWh will increase again from $153.90 to $160.73.
During the prehearing, the Florida Office of the Public Counsel’s Patty Christensen stated that the witnesses needed more time to summarize their testimonies and asked if they could have their time extended past five minutes.
“These are extensive, large, complicated testimonies that we would like to have at least sufficient time for witnesses to summarize and we’ve been able to do that in five minutes and it has not dragged the proceedings down,” Christensen said.
The final hearing on the rate increase will be held on Aug. 21 and Aug. 22. More than 30 witnesses will testify in front of the commission.
Duke Energy Florida had its final storm restoration recovery costs approved by the commission, totaling $431.4 million. According to a news release from PSC, the recovery costs will cover several tropical storms and hurricanes, including Ian and Nicole in 2022.
The commission previously approved an interim storm restoration recovery charge of $5.09 per customer using 1,000 kWh per month. Duke currently has over 2 million customers spread throughout a 13,000-square-mile service area in Florida. This charge will continue until Dec. 2024.
The PSC also announced that it had approved demand side management goals for TECO, Florida Power & Light, Duke Energy Florida, the Orlando Utilities Commission, and the JEA utilities company in Jacksonville.
Demand Side Management (DSM) aims to manage consumer demand for energy while conserving it. It includes a series of activities and programs implemented by utilities and government agencies to ensure customers get the best rates possible. Energy conservation goals begin in 2025 and run through 2034. The last time DSM goals were approved was in 2019.
Published August 21, 2024
