Florida Public Service Commission approves Duke Energy Florida rate plan

The Florida Public Service Commission (PSC) approved an agreement between Duke Energy Florida and other parties on customer rates through 2024.

The agreement includes base-rate increases of $67.25 million in 2022, $48.93 million in 2023, and $79.2 million in 2024. Further, it contains caveats that could change the increases, such as a federal or state income-tax change. In 2022, the company’s residential customers will see a bill increase of approximately 3 to 4 percent.

“We determined the agreement was a fair resolution in the public interest, and I believe it resulted in lower rates than would have been possible without a settlement,” PSC Chairman Gary Clark said. “Customers now know what to expect on their bills through 2024, and Duke can focus on providing safe and reliable energy to its customers.”

Also, with the commission’s approval, Duke Energy Florida (DEF) can offer a new electric-vehicle charging station program that would build on an existing pilot program. Also approved was DEF’s Dismantlement Study, which includes the retirement of two coal-fired plants at its Crystal River North site. Further, the PSC approval resolves all issues in two ongoing storm cost recovery dockets related to Hurricanes Michael and Dorian. It clarifies cost allocation and rate design matters concerning DEF’s Storm Protection Plan Cost Recovery Clause.

Duke Energy Florida serves more than 1.8 million retail customers in Florida.