Power bills likely going up, here’s how you can save money

TAMPA, Fla. (WFLA) — Three Tampa Bay area utility companies have requested rate increases from the state to recover costs to restore power during Hurricane Irma.

Tampa Electric, Duke Energy and Florida Power and Light have filed petitions with the Florida Public Services Commission to raise rates.

TECO is “seeking about $88 million…to cover the company’s storm expenses for the past three years and replenish the storm reserve for future events.” The increase would work out to about $4 per month for a family that uses 1,000 kilowatt hours (kWh) per month. The increase would take effect in March and last through the end of 2018, when TECO says “it would likely be reduced.”

Duke Energy filed its petition with the PSC on Thursday to recover “$381 million in costs associated with the company’s response to September’s Hurricane Irma in Florida…and $132 million to replenish its storm reserve fund for use in responding to future storms.” Duke estimates these recovery costs will be $5.20 per 1,000 kwh, and would last for 3 years beginning in March 2018.

FPL would increase costs by about $4 per month beginning in March 2018. Those costs would go up to about $5.50 in 2019, with expected recovery of all costs to be completed by the end of 2020.

Florida PSC has 60 days from the date of the rate increase request to respond. Those reviews will take place in early 2018.

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