Duke Energy Florida customers set to see lower bills again as company proposes rate reduction

ST. PETERSBURG, Fla. – Duke Energy Florida is set to reduce electric bills for the second time this year following a proposed rate decrease slated to kick off in June, reflecting anticipated drops in fuel prices.

The utility giant has officially submitted a fuel mid-course rate request to the Florida Public Service Commission Tuesday, aligning with projections of reduced natural gas expenses, according to a news release on the company’s website.

“With fuel prices expected to decline, we have an opportunity to lower rates for a second time this year for our customers, just as we prepare for the higher energy usage that come with summer months,” Duke Energy Florida President Melissa Seixas said.

If approved, the proposed reduction would welcome relief for the average Florida residential customer, cutting their monthly bill by $5.90, or nearly 4%. This latest decrease comes on the heels of a prior $11.29 drop, around 6%, which customers began seeing in January.

Standard commercial and industrial clients can also anticipate a reduction in their bills ranging from 3.5% to 7%, with the exact percentage depending on factors such as industry classification and variations in usage patterns among customers.

“We remain committed to providing the best possible price for Florida’s growing population, while delivering the reliable power and customer service our customers deserve today, tomorrow and for many years to come,” Seixas said.

The Duke Energy Florida branch boasts an energy capacity of 12,300 megawatts. This vast capacity serves a customer base of 2 million, encompassing residential, commercial, and industrial sectors, spread across a service area spanning 13,000 square miles within Florida.