Florida utility customers can expect to see higher bills in the coming months as the Florida Public Service Commission (PSC) has approved interim storm restoration costs for Tampa Electric Company (TECO) and Duke Energy Florida (DEF). The approved charges will allow the utilities to recover a combined $1.55 billion in expenses related to the impacts of Hurricanes Idalia, Debby, Helene, and Milton.
The PSC emphasized that the approved charges are preliminary and subject to refund with interest pending a future review once final audited costs are determined.
Tampa Electric Company (TECO)
TECO’s approved interim recovery amount is $463.6 million, which includes replenishment of its $55.8 million storm reserve. This recovery amount covers costs associated with Hurricane Idalia ($34.5 million), Hurricane Debby ($4 million), Hurricane Helene ($52 million), and Hurricane Milton ($358.9 million).
READ: Florida Farm Bill Aims To Protect, Grow State’s Agricultural Industry
For residential customers using 1,000 kilowatt-hours (kWh) per month, this translates to a surcharge of $19.95 on their monthly bills. The surcharge will be in effect for 18 months, from March 2025 to August 2026. TECO serves over 850,000 customers in Hillsborough and parts of Polk, Pasco, and Pinellas counties.
Duke Energy Florida (DEF)
DEF’s approved interim recovery totals $1.09 billion, including replenishment of its $131.9 million storm reserve. This amount covers expenses related to Hurricane Debby ($61 million), Hurricane Helene ($372.5 million), and Hurricane Milton ($769.7 million).
Residential customers using 1,000 kWh per month will see a surcharge of $32.40 on their monthly bills for 12 months, from March 2025 to February 2026. DEF serves more than 2 million customers in Florida.
The approved charges reflect the significant costs incurred by the utilities in responding to a series of powerful hurricanes that impacted Florida in recent years:
- Hurricane Idalia: Made landfall as a Category 3 hurricane at Keaton Beach in August 2023.
- Hurricane Debby: Made landfall as a Category 1 hurricane near Steinhatchee in August 2024.
- Hurricane Helene: Struck the Big Bend region near Perry as a Category 4 hurricane in September 2024, the strongest on record to hit that area.
- Hurricane Milton: Made landfall near Siesta Key as a Category 3 hurricane in October 2024.
The PSC’s decision aims to balance the need for utilities to recover costs and prepare for future storms while minimizing the financial burden on customers.
Please make a small donation to the Tampa Free Press to help sustain independent journalism. Your contribution enables us to continue delivering high-quality, local, and national news coverage.
Connect with us: Follow the Tampa Free Press on Facebook and Twitter for breaking news and updates.
Sign up: Subscribe to our free newsletter for a curated selection of top stories delivered straight to your inbox.