Pending state approval, Florida coal-fired and natural gas provider Duke Energy recently took action to slash electric rates in customers’ favor for a fourth time within the last three years.
Based on expectations of reduced prices for natural gas, the company filed its request with the Florida Public Service Commission (FPSC) to reduce rates effective as of April, benefiting both residential and business customers. Residential consumers will see approximately $5.83 savings monthly in a standard 1,000-kWh account.
"After this price drop, our customers will be paying about 21 percent less for electricity than they were in January 2009. That's nearly $30 in savings every month," Alex Glenn, Duke Energy’s state president for Florida, said. "We continue to seek innovative approaches to provide the best possible price while we invest in affordable, clean energy and improve reliability for our customers every day."
At 20 percent below the national average, Duke Energy is already well ahead of the curve, especially when compared to increased costs seen across the board for other daily living expenses — such as housing, transportation and groceries — compiled by the Consumer Price Index for a recent 12-month period ending in September 2015.
In alignment with its thrifty vision, Duke Energy also plans to cut costs associated with its Crystal River nuclear plant in the near future, saving up to $600 million and passing the savings on to consumers as well.