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FLORIDA - Florida residents served by Tampa Electric will see an increase in their monthly electricity bills beginning in January 2025 following approval from the Florida Public Service Commission.
The decision authorizes the utility to raise base rates to cover operating expenses, infrastructure improvements, and storm recovery costs from the 2024 hurricane season.
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Under the approved plan, a residential customer using 1,000 kilowatt-hours of electricity per month will pay about $9 more, or roughly 6.7% above current rates.
Additional increases are expected later in the year, including a temporary storm recovery charge starting in March 2025 that will add approximately $20 per month for 18 months.
A 10% rise in fuel costs is also scheduled for mid-2025.
According to an analysis by Food and Water Watch, the average Tampa Electric customer now pays about 82% more for electricity than in December 2020, equal to nearly $940 in additional annual costs.
The organization attributes the rise to repeated rate adjustments approved over the past several years.
Tampa Electric stated that a large portion of the increase is due to recovering expenses from the 2024 hurricane season, which was one of the most damaging in recent history.
The company said spreading the recovery costs over 18 months will lessen the impact on consumers.
Tampa Electric also announced a $2 million shareholder-funded donation to a customer assistance program designed to help qualifying households manage higher energy costs.