Florida Public Service Commission

05/01/2024 | Press release | Distributed by Public on 05/01/2024 08:58

PSC Approves Storm Restoration Cost Recovery for TECO

State of Florida
Public Service Commission

NEWS RELEASE

May 1, 2024
Contact: 850-413-6482
PSC Approves Storm Restoration Cost Recovery for TECO

TALLAHASSEE - The Florida Public Service Commission (PSC) today approved actual storm restoration costs for Tampa Electric Company (TECO) for named storms during the 2018 through 2022 hurricane seasons.

TECO's adjusted interim storm recovery charges were approved by the PSC in November 2023, with an extended recovery period ending in December 2024. This recovery includes costs associated with Hurricanes Dorian, Elsa, Ian, Nicole, and Tropical Storms Alberto, Nestor, and Eta, and also includes replenishing the storm reserve fund.

Today, actual recoverable storm costs of $134.8 million were approved, continuing TECO's interim recovery charge of $2.19 for a 1,000 kWh monthly residential bill through December 2024. Following the recovery period, revenues collected from the interim charge will be compared to final approved recoverable storm costs, and any resulting over or under-recovery will be reflected in the Energy Conservation Cost Recover Clause.

TECO serves over 810,000 customers in Hillsborough and portions of Polk, Pasco, and Pinellas Counties.

For additional information, visit www.floridapsc.com.

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