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TAMPA, Fla. (WFLA) — Tampa Electric and Duke Energy are looking to increase their rates in 2025, according to new filings with the Public Service Commission.
Tampa Electric (TECO) said that while it aims to increase the base charge in 2025, it also filed, for the second time this year, for a reduction in bills due to lower fuel costs, according to a news release.
TECO reduced customers’ bills by about 11% in January, and the new decrease that would take effect over the summer would decrease bills by another 5%, according to the release.
The Public Service commission is expected to vote on the TECO decrease request on May 7.
TECO said the new rates, if approved, combined with the fuel charge decrease, would mean a customer who uses 1,000 kilowatt-hours of use per month would see their bill increase by about $5 in 2025.
TECO said the increase is necessary for long-term upgrades to its system that would result in shorter power outages and reduced fuel costs from increasing renewable energy. The company said it plans to add another 490 megawatts of solar capacity by the end of 2026.
The upgrades are necessary due to rising population, more extreme weather, and to guard against cyberattacks, according to TECO.
Like TECO, Duke Energy also filed for a base rate increase in 2025, and asked for a decrease in rates for 2024, according to a news release. The decrease would lower an average customer’s bill by $5.
Duke Energy’s 2025 increase would be about $16 per month for a customer using 1,000 kilowatt-hours, according to the news release. There would be subsequent increases of about $3 in 2026 and $5 in 2027.
Despite the increases, the company expects overall bills to decrease in 2025 due to other power contracts and storm restoration cost recovery items that expire at the end of 2024.
Duke Energy said the rate increase would pay for investments in clean energy and to help with population growth.
Both increases must be approved by the Public Service Commission after hearings with the public.
