Business
Duke Energy : Florida implements third rate reduction to lower residential customer bills by approximately 25% in 2026
Duke Energy : Florida implements third rate reduction to lower residential customer bills by approximately 25% in
About this update from Duke Energy Corporation (holding Company)
[{"type":"text","content":"\n \n ST. PETERSBURG, Fla. - Duke Energy Florida will implement its third rate reduction of 2026 from June through September, lowering residential customer bills by approximately $50, or 25%, for every 1,000 kilowatt-hours (kWh) of energy used when compared to January.\n The breakdown:\n Below is an outline of how these rate reductions have and will continue to appear on the bills of Duke Energy Florida's typical residential customers using 1,000 kWh per month:\n \n February 2026: An approximately $33 decrease from the early removal of the storm cost recovery charge associated with the company's response to hurricanes Debby, Helene and Milton\n March 2026: An approximately $11 decrease instituted by the company every March through November to help customers save money during times when energy use is typically higher\n June 2026: An approximately $6 decrease reflecting the difference between the storm cost recovery amount collected and the actual amount incurred by the company (effective through September 2026)\n Total: An approximately $50 decrease\n \n Our view:\n \"We know it feels like every bill is higher right now - from housing to groceries to power - and that can put a strain on families. We also understand that our customers depend on us to provide safe, reliable energy, day in and day out, at the lowest possible price,\" said Melissa Seixas, Duke Energy Florida state president. \"This is the third rate reduction for our customers this year, supporting our commitment to delivering positive outcomes that have a real, tangible impact on their wallets and in their lives.\"\n True up explained:\n Duke Energy Florida customers - like all investor-owned utility customers - only pay for the actual costs associated with the company's storm response. The Florida Public Service Commission (FPSC) recently approved a filing to true up the difference between the storm cost recovery charge amount collected (approximately $1 billion) and the actual amount incurred by the company (approximately $915 million) following the 2024 hurricane season. This true up will flow back to customers as a decrease in fuel rates from June through September 2026.\n \n \n For 1,000-kWh residential customers, the true up - combined with FPSC-approved recovery costs associated with the company's newest solar energy site - will result in an approximately $6 ...