Florida Public Service Commission approves new rate plan for Tampa Electric

The Florida Public Service Commission (PSC) approved a new rate for Tampa Electric customers, which will go into effect in January.

Tampa Electric customers will see a slight increase in their bills, reflecting expected fuel prices, capacity costs, the Storm Protection Plan, plus a settlement of the company’s recent rate request.

The typical residential customer using 1,000 kilowatt-hours will see their monthly bill rise to $120.86 – up 2 percent from the current rate of $118.07. Commercial and industrial customers’ increases will vary, depending on usage. Tampa Electric points out that rates remain significantly below the national average and among the lowest in Florida.

“We are proud to provide outstanding value to our customers every day,” Archie Collins, president and CEO of Tampa Electric, said. “And we are pleased we continue to have bills that are among the lowest in the state – and in the country.”

Tampa Electric’s fuel mix includes about 85 percent natural gas, 7.5 percent solar, and roughly 7.5 percent coal. The company deploys a variety of strategies to manage fuel costs, including optimizing the use of its generating fleet to consume fuel as efficiently as possible and purchasing power from other companies.

Tampa Electric partners with many community agencies to offer flexible payment arrangements and other programs that support customers in need.

Tampa Electric – a subsidiary of Emera — serves about 800,000 customers in West Central Florida.