TAMPA, Fla. – Homeowners and bill payers in Central Florida may soon see another bump in their utility bills. Tampa Electric Company (TECO) has filed a request with the Florida Public Service Commission (PSC) to temporarily raise electricity rates.
If approved, a typical residential customer using 1,000 kilowatt-hours per month would see their bill increase by 5.3% — or about $8.88 more each month — bringing the total to $176.89. For commercial and industrial customers, the increase would range between 2% and 10%, depending on usage.
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TECO points to storm recovery costs and previously approved adjustments as key reasons for the proposed rate hike. The company says much of the increase will help fund construction of three new energy storage facilities, resiliency improvements and the completion of two solar plants — projects designed to reduce long-term fuel expenses.
The utility serves more than 860,000 customers across the region and maintains that these infrastructure investments are necessary to ensure reliability and sustainability for the growing service area.
Customer pushback and protests:
Not everyone is on board with the plan. Over the weekend, Congresswoman Kathy Castor joined TECO customers in a public protest against the proposal. Demonstrators symbolically burned their bills to express frustration, arguing that TECO customers have already absorbed two rate hikes earlier this year — in January and March.
Opponents say another increase could push some households to make difficult financial decisions, like choosing between paying for food or keeping the lights on.
What’s next:
The Public Service Commission began hearings on TECO’s rate request Tuesday. Earlier this year, the panel rejected recommendations from consumer advocates to roll back one of the company’s prior increases — a decision that could signal how regulators approach this latest proposal.
A final vote on the request is expected after the hearings conclude.
The Source: FOX 13’s Mariah Harrison gathered information for this story from the Tampa Electric Company (TECO)