Florida Public Service Commission

05/07/2024 | Press release | Distributed by Public on 05/07/2024 07:57

Florida PSC Reduces Fuel Cost Recovery Charges for DEF and TECO

State of Florida
Public Service Commission


NEWS RELEASE

May 7, 2024
Contact: 850-413-6482
Florida PSC Reduces Fuel Cost Recovery Charges for DEF and TECO

TALLAHASSEE - Florida's Public Service Commission (PSC) today approved reduced fuel cost recovery charges for Duke Energy Florida, LLC (DEF) and Tampa Electric Company (TECO), beginning in June 2024.

The cost reduction-or mid-course correction-is attributed to the decline in natural gas prices, which are due in part to increased natural gas supplies in storage and milder weather conditions. Fuel costs are set annually for Florida's investor-owned utilities. Fuel cost mid-course corrections are used when a utility incurs an under- or over-recovery of ten percent or more. Utilities may not earn a profit on fuel charges.

With today's PSC approvals, the monthly residential bill for a DEF customer using 1,000 kWh will be reduced by $5.90, from the current bill of $160.58 to $154.68. The monthly residential bill for a TECO customer using 1,000 kWh will be reduced by $7.04, from the current bill of $143.48 to $136.44.

For additional information, visit www.floridapsc.com.

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