As TECO and Duke seek energy rate hikes, Florida AARP wants resident opposition

Duke Energy and TECO are getting push back on proposed rate increases.

While Duke Energy and Tampa Electric Co. (TECO) are seeking rate increases and approval from the Florida Public Service Commission (PSC), one of the biggest organizations for senior citizens is pushing back.

Duke is seeking a rate hike over three years for its nearly 2 million customers in Florida. That hike would amount to $818 million  in base rates for Duke, if approved. The company does say, however, that it expects customers’ bills to decrease due to other cost reductions.

Meanwhile, TECO also wants a three-year base rate increase amounting to more than $460 million for its 840,000 customers on Florida’s West Coast starting in 2025, if the state gives the green light. That may result in higher bills, though TECO says rates “would remain one of the lowest in Florida and lower than 2023 bills.”

But Florida AARP representatives say they will try to mobilize citizens against the proposed right hikes. AARP announced they are starting a new campaign called, “Get amp’d up, to keep rates down.”

But AARP Florida Director Jeff Johnson said the senior action group is not entirely opposed to energy rate hikes by either utility. They are taking aim more at the amount over the next few years.

“On behalf of millions of AARP members and electric utility customers, AARP Florida is asking the Florida Public Service Commission to dramatically reduce the proposed increase and limit profitability,” Johnson said. “We know an increase is inevitable to cover the cost of doing business, however, it is unnecessary to raise rates for non-energy usage such as return on equity and fixed customer charges.”

TECO officials argue they lowered rates earlier this year and the proposed rate hike is an adjustment.

Duke officials said the rate hike will equip the company enough to reduce future power outages.

Johnson said such rate hikes would hurt seniors in Florida who are more accustomed to a stable spending plan each month.

“Many Floridians, including our members, grapple with fixed or limited incomes, exacerbated by persistent inflation,” Johnson said in a prepared statement Monday.

As part of its advocacy efforts, AARP Florida is educating customers, urging petitions and raising awareness about the significance of the rate-increases.

State hearings on the proposed energy rate hikes will run from June 10 through June 18 in Tampa, Tallahassee, Inverness and Largo.