Energy rate changes set to kick in Jan. 1

electric utility rates (Large)
Will your monthly bill go up or down? It depends on your provider.

With 2021 upon us, power customers throughout the state should be ready for monthly rate changes set to go into effect Jan. 1.

The state’s Public Service Commission (PSC) landed on most of those numbers during a November meeting. Some Floridians will see an increase in their monthly payment this year, while others will see their bills drop.

Rates will rise for Florida Power & Light (FPL), Gulf Power and Tampa Electric Company (TECO) customers.

TECO’s customers will see the largest increase, with customers who use 1,000 kilowatt hours of electricity per month seeing their bills rise from $97.69 each month to $105.25. Though power companies use the 1,000 kilowatt hours per month standard for rate measurements, customers’ individual power usage will vary.

FPL’s monthly rate for 1,000 kilowatt hours of electricity use will go from $96.43 to $99.05. Gulf Power customers will only see a nominal increase, with equivalent rates going from $140.43 to $140.62.

Those who get services through Duke Energy or Florida Public Utilities Company (FPUC) will see a monthly reduction as the new year begins.

For Duke customers who use 1,000 kilowatt hours of electricity per month, their bills will go down from $130.26 to $126.63. FPUC’s monthly rate for 1,000 kilowatt hours of electricity use drops from $134.80 to $129.88.

The PSC analyzes expected costs for a number of sources each fall before announcing rate changes for the upcoming year. The PSC cited dropping fuel costs for the reduction in Duke Energy’s rate. Conversely, an increase in natural gas costs for TECO prompted a price bump.

While some customers will see their bills rise next year, several of the state’s power companies have offered price reductions during pandemic-stricken 2020.

In April, the PSC approved significant price cuts for FPL, Duke and Gulf Power customers. That built on earlier price cuts for FPL customers thanks to a reduction in operating costs.

In addition, FPL is offering $20 credits on monthly bills for low-income residential users. That effort, totaling $15 million, began in December and will run through Dec. 2021.

Ryan Nicol

Ryan Nicol covers news out of South Florida for Florida Politics. Ryan is a native Floridian who attended undergrad at Nova Southeastern University before moving on to law school at Florida State. After graduating with a law degree he moved into the news industry, working in TV News as a writer and producer, along with some freelance writing work. If you'd like to contact him, send an email to [email protected]



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