Duke Energy Florida implements third rate reduction to lower residential customer bills by approximately 25% in 2026

ST. PETERSBURG, Fla., May 29, 2026 /PRNewswire/ -- Duke Energy Florida will implement its third rate reduction of 2026 from June through September, lowering residential customer bills by approximately $50, or 25%, for every 1,000 kilowatt-hours (kWh) of energy used when compared to January.

The breakdown:

Below is an outline of how these rate reductions have and will continue to appear on the bills of Duke Energy Florida's typical residential customers using 1,000 kWh per month:

• February 2026: An approximately $33 decrease from the early removal of the storm cost recovery charge associated with the company's response to hurricanes Debby, Helene and Milton

• March 2026: An approximately $11 decrease instituted by the company every March through November to help customers save money during times when energy use is typically higher

• June 2026: An approximately $6 decrease reflecting the difference between the storm cost recovery amount collected and the actual amount incurred by the company (effective through September 2026)

• Total: An approximately $50 decrease

Our view:

"We know it feels like every bill is higher right now – from housing to groceries to power – and that can put a strain on families. We also understand that our customers depend on us to provide safe, reliable energy, day in and day out, at the lowest possible price," said Melissa Seixas, Duke Energy Florida state president. "This is the third rate reduction for our customers this year, supporting our commitment to delivering positive outcomes that have a real, tangible impact on their wallets and in their lives."

True up explained:

Duke Energy Florida customers – like all investor-owned utility customers – only pay for the actual costs associated with the company's storm response. The Florida Public Service Commission (FPSC) recently approved a filing to true up the difference between the storm cost recovery charge amount collected (approximately $1 billion) and the actual amount incurred by the company (approximately $915 million) following the 2024 hurricane season. This true up will flow back to customers as a decrease in fuel rates from June through September 2026.

For 1,000-kWh residential customers, the true up – combined with FPSC-approved recovery costs associated with the company's newest solar energy site – will result in an approximately $6 net decrease on bills when compared to March through May 2026.

Commercial and industrial customers can also expect bill decreases ranging from 3.3% to 7.4% when compared to March through May 2026, though the specific impact will vary depending on several factors.

More savings:

Duke Energy Florida continues to identify new and creative ways to create additional savings for customers, including:

• Making efficiency improvements at many of its natural gas plants, saving customers $340 million in fuel costs.

• • This translates to $10 savings on customers' monthly bills.

• Completing four new solar energy sites – in Madison, Hernando and Sumter counties – saving customers another $1 billion from displaced fuel costs.

• Passing on $65 million in Inflation Reduction Act tax credits to customers, which will only increase as more solar energy sites come online.

• • This saves residential customers at least $2.50 per 1,000 kWh.

Help is available:

While Duke Energy Florida is focused on keeping its own costs in check, the company is committed to connecting customers with practical ways to save energy and manage their bills, including flexible payment plans. For more information, please visit duke-energy.com/HereToHelp.   

Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns 12,500 megawatts of energy capacity, supplying electricity to 2 million residential, commercial and industrial customers across a 13,000-square-mile service area in Florida. 

Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.7 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,700 megawatts of energy capacity. Its natural gas utilities serve 1.6 million customers in North Carolina, South Carolina, Ohio and Kentucky.

Duke Energy is executing an energy modernization strategy, keeping customer value at the forefront as it invests in electric grid upgrades and efficient generation resources to strengthen the system and serve growing energy needs.

More information is available at duke-energy.com. Follow Duke Energy on X, LinkedIn, Instagram, TikTok and Facebook for stories about the people and innovations powering its communities.

Contact: Aly Raschid
24-Hour: 800.559.3853
X: @DE_AlyRaschid

SOURCE Duke Energy