Duke Energy proposing rate reduction for Florida customers

Duke Energy said Tuesday its Florida customers will be able to enjoy lower electric rates if its  annual rate filings are approved as expected by the Florida Public Service Commission.

Duke Energy said that once 2016 rate filings are accepted and the company issues low-interest bonds, residential customers will realize a decrease of approximately $4.18 monthly on an average 1,000-kilowatt bill, representing more than 3 percent in savings over the current rate. The company plans to issue low-cost bonds lowering costs associated with the Crystal River nuclear plant in early 2016.

Business customers will also see similar rate reductions compared with current rates. The anticipated decrease is due mainly to lower natural gas prices. Individual electric bills will vary, the company said.

"We continue to work hard to provide the best possible price for our customers," Duke Energy State President – Florida Alex Glenn said. "Our successful cost management and careful planning is helping lower customer rates while we invest in affordable, clean energy and improve reliability for our customers every day. If approved as planned, our customers will be paying nearly 15 percent less for electricity than they were six years ago."

Duke Energy Florida provides about 9,000 megawatts of owned electric capacity to approximately 1.7 million customers in a 13,000-square-mile regional service area.

With Florida regional headquarters in St. Petersburg, Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers in six states throughout the Southeast and Midwest. 

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