Duke Energy seeks $56M annual savings for customers

Duke-Energy (Large)
If approved, residential rates would decrease $1.90 per 1,000 kilowatt-hours beginning in January.

Duke Energy Florida wants to return $56 million dollars annually to ratepayers through decreased electric costs for customers.

That’s the amount the company is saving as a result of corporate tax relief achieved under the Inflation Reduction Act and affiliated production tax credits. Those credits are aimed at increasing and speeding up the inclusion of decarbonization technologies such as wind and solar. The company has filed a proposal to pass those savings onto customers.

If approved, residential rates would decrease $1.90 per 1,000 kilowatt-hours beginning in January.

“We understand our customers need some relief, and this is an opportunity for Duke Energy to pass tax savings to our customers,” said Duke Energy Florida State President Melissa Seixas. “We will continue to look for creative solutions to provide relief and focus our efforts to deliver the best possible service.”

Duke Energy Florida, a subsidiary of Duke Energy, owns 10,300 megawatts of energy capacity, supplying electricity to 1.9 million residential, commercial and industrial customers across a 13,000-square-mile service area in Florida.

Duke Energy is one of America’s largest energy holding companies. Its electric utilities serve 8.2 million customers in Florida, Indiana, Kentucky, North Carolina, Ohio and South Carolina, and collectively own 50,000 megawatts of energy capacity. Its natural gas unit serves 1.6 million customers in Kentucky, North Carolina, Ohio, South Carolina and Tennessee. The company employs 28,000 people.

Staff Reports


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