Proposed reduction could bring residential energy bills below $100 per month for Tampa Electric customers

Published on August 28, 2018 by Chris Galford

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Residential customers of Tampa Electric could see their monthly electricity bills drop below $100 in 2019 if the Florida Public Service Commission (FPSC) approves the company’s recent filing on projected costs for fuel and other clauses.

That approval would result in customers’ bills dropping to the lowest level in 13 years. If approved, the average residential customer’s monthly energy bill next year would drop by about 8 percent, or more than $8, to $99.55 for 1,000 kilowatt-hours (kWh) of usage. Commercial and industrial customers would also see bills drop by about 8 percent. Aiding customers is that the reduction builds on another previously approved decrease this month. That reduction was based on the effects of federal tax reform, and will result in costs declining by $6.50 per month.

“Tampa Electric will have some of the lowest rates in Florida, as we continue to provide outstanding value to our customers,” Nancy Tower, president and CEO of Tampa Electric, said. “We are proud that bills in 2019 will drop to about the same level as they were in 2005.”

Tampa Electric serves around 750,000 customers in Florida, and if this latest cost reduction is approved, it would see their bills hovering at around 23 percent under the national average. They credit the reductions to lowered fuel and environmental compliance costs, as well as the addition of seven utility-scale solar projects this year.

The FPSC is expected to vote on the proposal following a Nov. 5 hearing.