Drew Wilson
Duke Energy has submitted a plan to fast track savings to ratepayers.
The utility company announced Thursday that it was seeking to pass on $78 million in fuel savings in a lump sum next month rather than the typical practice of splitting the savings over the course of a year.
If approved by the Florida Public Service Commission, Duke said bills sent to residential customers would be about 21% lower.
Per the plan, a residential customer using 1,000 kilowatt-hours of electricity would pay about $27 less in May. Commercial and industrial customers would pay 20% to 45% less in May than they did in April.
Rates would return to current levels in June.
“We understand that during the COVID-19 pandemic many of our residential and business customers are facing financial challenges,” said Catherine Stempien, Duke Energy Florida state president. “During these unprecedented times, we want to find creative solutions to provide relief and continue to work hard to deliver the best possible price for our customers.”
The fuel savings plan is similar to proposals put forward by other Florida utility companies.
Last week, Gulf Power and Florida Power & Light, both subsidiaries of NextEra Energy, proposed passing fuel savings along in a single installment. The week prior, Tampa Electric Company submitted a plan to accelerate fuel savings.
Duke’s proposal is the latest in a string of actions it has announced in recent weeks as its customers, both residential and commercial, struggle with the economic devastation wrought by the new coronavirus.
The company, which has 1.8 million Florida customers, has pledged not to cut off power to customers who cannot pay their bills. Customers can also seek assistance through the Energy Neighbor Fund.
