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Regulators approve Duke Energy Florida's request to lower rates in 2025

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Duke Energy Florida received approval from the Florida Public Service Commission to lower rates in January 2025. Residential customers using 1,000 kWh will see a $9.77 decrease in their monthly bills compared to December 2024. Commercial and industrial customers will experience bill reductions between 5.1% to 11.1%. While the company plans to continue grid improvements for enhanced security and reliability, customers should note that storm cost recovery for hurricanes Debby, Helene, and Milton, to be filed in December 2024, may impact rates as early as March 2025.

Duke Energy Florida ha ricevuto l'approvazione dalla Commissione dei Servizi Pubblici della Florida per ridurre le tariffe a gennaio 2025. I clienti residenziali che utilizzano 1.000 kWh vedranno una riduzione di $9,77 nelle loro bollette mensili rispetto a dicembre 2024. I clienti commerciali e industriali sperimenteranno una diminuzione delle bollette compresa tra 5,1% e 11,1%. Sebbene l'azienda preveda di continuare a migliorare la rete per una maggiore sicurezza e affidabilità, i clienti dovrebbero notare che il recupero dei costi per le tempeste legate agli uragani Debby, Helene e Milton, che sarà presentato a dicembre 2024, potrebbe influenzare le tariffe già a partire da marzo 2025.

Duke Energy Florida recibió la aprobación de la Comisión de Servicios Públicos de Florida para reducir las tarifas en enero de 2025. Los clientes residenciales que utilizan 1,000 kWh verán una disminución de $9.77 en sus facturas mensuales en comparación con diciembre de 2024. Los clientes comerciales e industriales experimentarán reducciones en sus facturas entre 5.1% y 11.1%. Si bien la empresa planea continuar con las mejoras en la red para aumentar la seguridad y confiabilidad, los clientes deben tener en cuenta que la recuperación de costos por tormentas para los huracanes Debby, Helene y Milton, que se presentará en diciembre de 2024, podría afectar las tarifas tan pronto como en marzo de 2025.

듀크 에너지 플로리다는 플로리다 공공 서비스 위원회로부터 2025년 1월 요금을 인하할 수 있는 승인을 받았습니다. 1,000 kWh를 사용하는 주거 고객은 2024년 12월에 비해 $9.77의 인하를 경험하게 됩니다. 상업 및 산업 고객은 요금이 5.1%에서 11.1%까지 감소할 것입니다. 회사는 보안과 신뢰성을 향상시키기 위해 전력망 개선을 계속할 계획이지만, 고객들은 2024년 12월에 제출될 예정인 허리케인 데비, 헬렌, 밀턴과 관련된 폭풍우 비용 회수가 요금에 영향을 미칠 수 있음을 유의해야 합니다. 이는 2025년 3월부터 적용될 수 있습니다.

Duke Energy Florida a reçu l'approbation de la Commission des Services Publics de Floride pour réduire les tarifs en janvier 2025. Les clients résidentiels utilisant 1 000 kWh constateront une réduction de 9,77 $ sur leurs factures mensuelles par rapport à décembre 2024. Les clients commerciaux et industriels connaîtront des baisses de factures comprises entre 5,1 % et 11,1 %. Bien que l'entreprise prévoit de continuer les améliorations du réseau pour une sécurité et une fiabilité accrues, les clients doivent noter que le recouvrement des coûts liés aux tempêtes pour les ouragans Debby, Helene et Milton, à déposer en décembre 2024, pourrait avoir un impact sur les tarifs dès mars 2025.

Duke Energy Florida erhielt die Genehmigung der Florida Public Service Commission, die Tarife im Januar 2025 zu senken. Haushaltskunden, die 1.000 kWh verbrauchen, werden eine Senkerung von $9,77 in ihren monatlichen Rechnungen im Vergleich zu Dezember 2024 feststellen. Gewerbliche und industrielle Kunden werden Rechnungsreduzierungen zwischen 5,1% und 11,1% erleben. Während das Unternehmen plant, die Netzverbesserungen zur Erhöhung der Sicherheit und Zuverlässigkeit fortzusetzen, sollten die Kunden beachten, dass die Kostenrückerstattung für die Stürme im Zusammenhang mit den Hurrikanen Debby, Helene und Milton, die im Dezember 2024 eingereicht wird, die Tarife möglicherweise bereits ab März 2025 beeinflussen könnte.

Positive
  • Rate reduction approval for residential customers ($9.77 decrease per 1,000 kWh)
  • Commercial and industrial customer bill decreases of 5.1% to 11.1%
Negative
  • Upcoming storm cost recovery filing expected to increase rates in March 2025

Insights

This rate decrease approval is a mixed signal for Duke Energy. The $9.77 monthly reduction for 1,000 kWh residential customers and 5.1-11.1% decrease for commercial customers represents positive consumer optics, but several factors complicate the outlook. The rate reduction will be partially offset by upcoming storm cost recovery filings for hurricanes Debby, Helene and Milton, expected to impact rates by March 2025. This timing suggests a potential whipsaw effect on customer bills.

The company's ability to maintain its storm protection plan investments while reducing rates demonstrates effective cost management. However, the pending storm recovery costs create uncertainty around the net financial impact. The continued focus on grid improvements and clean energy transition remains capital intensive, which could pressure future rate cases. Investors should monitor the December storm cost recovery filing to better assess the complete financial picture for 2025.

  • A 1,000 kWh residential customer bill will decrease by $9.77 beginning in January
  • Bills will be impacted by the company's storm cost recovery later in 2025

ST. PETERSBURG, Fla., Nov. 5, 2024 /PRNewswire/ -- Today, the Florida Public Service Commission approved Duke Energy Florida's request to lower rates and decrease customer bills in January 2025 as part of an annual adjustment for the cost of fuel used to generate electricity at the company's power plants, as well as other clause adjustments.  

Typical residential customers using 1,000 kilowatt-hours (kWh) will see a decrease of $9.77 on their January 2025 bill when compared to December 2024. Commercial and industrial customers will see bill decreases ranging from 5.1% to 11.1%, though the specific impact will vary depending on several factors.

"Duke Energy Florida is thankful for the opportunity to offer our customers this much-needed break after recent hurricanes devastated many of their homes, businesses and communities," said Melissa Seixas, Duke Energy Florida state president. "While we're still assessing cost of the company's response to those storms, we want to remind our customers that we'll always prioritize affordability – even as we work to develop a smarter, stronger electric grid – and maintain the same high level of service they expect and deserve."

With this approval, Duke Energy Florida will continue making electric grid improvements consistent with its storm protection plan to enhance security, reliability and resiliency in 2025 and beyond. These rates also include the company's annual fuel, capacity, energy conservation and environmental compliance clause costs.

However, it should be noted the company anticipates filing storm cost recovery for hurricanes Debby, Helene and Milton in December 2024, which will impact rates as early as March 2025. 

Duke Energy Florida provides financial assistance, including flexible billing programs and the Share the Light Fund, for customers in need. To learn more, customers can call the Customer Care phone number listed on their bills or visit duke-energy.com/HereToHelp.

Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns 12,300 megawatts of energy capacity, supplying electricity to 2 million residential, commercial and industrial customers across a 13,000-square-mile service area in Florida.  

Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. 

Duke Energy is executing an ambitious clean energy transition, keeping reliability, affordability and accessibility at the forefront as the company works toward net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company is investing in major electric grid upgrades and cleaner generation, including expanded energy storage, renewables, natural gas and nuclear.  

More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition. 

Media contact: Ana Gibbs
24-Hour: 800.559.3853

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/regulators-approve-duke-energy-floridas-request-to-lower-rates-in-2025-302296746.html

SOURCE Duke Energy

FAQ

How much will Duke Energy Florida (DUK) lower residential rates in January 2025?

Duke Energy Florida will lower residential rates by $9.77 per month for customers using 1,000 kilowatt-hours, effective January 2025.

When will Duke Energy Florida (DUK) implement storm cost recovery charges for hurricanes Debby, Helene and Milton?

Duke Energy Florida plans to file for storm cost recovery in December 2024, with rate impacts expected as early as March 2025.

What is the percentage decrease for Duke Energy Florida (DUK) commercial customers in 2025?

Commercial and industrial customers will see bill decreases ranging from 5.1% to 11.1%, with specific impacts varying based on individual factors.

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