To boost clean, sustainable energy, Tampa Electric is requesting a rate case with the Florida Public Service Commission (PSC).
Announced in February, today’s filing makes Tampa Electric the second major utility in Florida to request new rates this year. If approved, the changes would start in January 2022.
“To continue delivering the value our customers deserve, we must plan for the long-term, making investments now that create a better energy future,” said Tampa Electric Chief Executive Officer Nancy Tower. “By modernizing our power plants and making them more efficient, as well as expanding solar generation, we are reducing fuel costs, we are improving air quality in the region, we are reducing carbon emissions, and we are keeping customer bills more predictable over time.”
Over the past few months, Tampa Electric made clear its primary objective — to increase the reliance on clean, green energy and reduce carbon emissions by modernizing power plants and building new solar projects.
Simultaneously, investments in infrastructure and new technologies will allow Tampa Electric to continue providing the reliable, quality service that customers expect.
Tampa Electric serves 800,000 customers in West Central Florida. it will be the utility’s first new rate agreement since 2013; it expires at the end of 2021.
If passed, residential customers would see an increase of 19% — 67 cents a day. That would be $125.48 for an average monthly bill (based on 1,000 kilowatt-hours of usage).
As for commercial and industrial customers, they will see an increase of 13 to 17%. While this is not insignificant, Tampa Electric’s rates would still be just 5% higher than more than a decade ago.
Despite the change, Tampa Electric customers enjoy a great value; its rates remain among the lowest in the state and well below the national average.
Tampa Electric customers can also expect benefits from the increased investment. Specifically, Tampa Electric plans to expand the generation of clean, green energy and reduce carbon emissions through the modernization of Big Bend Power Station and its solar projects.
Customers will also benefit from improved reliability — such as better grid technology and equipment — which will keep pace with the demands of customers in the Tampa Bay area, one of the fastest-growing regions in the nation. New technologies offer advanced outage detection and faster restoration.
These and other enhancements will help customers make smarter choices, saving money in the long run.
Earlier this year, Tampa Electric announced plans to double the number of homes powered by solar energy over the next two years. Four current solar projects will be finished by the end of the year. Also, Tampa Electric is retiring the coal-powered Big Bend Unit 3 in 2023, nearly two decades sooner than planned.
And it will be better for the environment, too; Tampa Electric has reduced its carbon emissions by 50% since 2000.