Duke Energy Florida and Tampa Electric Co. have filed proposals with the Florida Public Service Commission (PSC) to recoup a combined $1.55 billion in storm-related costs from customers. If approved, the proposals would result in increased monthly bills for customers starting in March 2025 and lasting for one year.
The majority of the funds would cover the expenses of restoring power after a barrage of hurricanes that impacted Florida this year, including Hurricanes Debby, Helene, and Milton. Tampa Electric is also seeking to recover costs associated with Hurricane Idalia, which struck the state in 2023.
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Duke Energy is seeking approximately $1.09 billion, while Tampa Electric is requesting nearly $464 million.
“These storms have left an undeniable mark on our region,” said Archie Collins, President and CEO of Tampa Electric. “We understand the hardship these storms have caused in our community and recognize that this cost increase will be challenging for some customers.”
The PSC has historically approved such cost recovery requests from utilities, including a recent approval for Florida Power & Light to recover $1.2 billion in storm-related expenses.
For the average residential customer using 1,000 kilowatt-hours of electricity per month, the proposed increases would translate to an extra $30.81 on Tampa Electric bills and $21 on Duke Energy bills.
READ: Florida Power Bills Set To Soar In 2025 After Regulator Approvals
“Quickly and safely getting the lights back on for our customers was our highest priority after each of these brutal storms,” said Melissa Seixas, Duke Energy Florida state president. “While today’s filing reflects the costs of those efforts, we want to assure our customers that, as part of our overall commitment to affordability, we strived to minimize the impact on their bills as much as possible.”
The utilities cite the mobilization of thousands of workers, including out-of-state crews, as a major contributor to the high recovery costs. Hurricane Milton alone, which made landfall in October, affected approximately 1 million Duke Energy customers and 600,000 Tampa Electric customers.
The PSC will review the proposals and make a decision on whether to approve the requested cost recovery. If approved, the increased charges will be reflected on customer bills as a “storm restoration surcharge” beginning in March 2025 and continuing for 12 months.
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