Get ready to dig deeper into your wallets, Florida power customers. State regulators have approved measures that will lead to higher electricity bills in the new year.
Last week, the Florida Public Service Commission greenlit a $1.2 billion storm recovery package for Florida Power & Light (FPL). This move will allow FPL to recoup costs related to Hurricanes Debby, Helene, and Milton and replenish its storm reserve fund.
However, it comes at a cost for consumers, who can expect to see their monthly bills increase by about $12 starting in January.
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In addition to the FPL increase, the commission also gave preliminary approval to a base-rate hike for Tampa Electric Co. (TECO), which serves customers in Hillsborough and surrounding counties.
These decisions have drawn criticism from consumer advocates, who argue that the increases will place an additional burden on Floridians already struggling with inflation and the aftermath of recent hurricanes.
“These rate hikes are a slap in the face to customers who are already facing financial hardship,” said Brooke Ward of Food & Water Watch. “It’s unacceptable that utility companies are allowed to pass the costs of storm recovery onto consumers.”
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The approved increases are expected to take effect in 2025, leaving many Floridians bracing for a more expensive year ahead.
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