Duke Energy Florida to reduce rates for a second time this year, beginning this June

• If approved, the company's rate reduction request will reduce a typical residential customer bill of 1,000 kWh by almost $6
• The proposed reduction is in addition to a bill rate decrease of about $11 that began in January

ST. PETERSBURG, Fla., April 8, 2024 /PRNewswire/ -- For the second time this year, a typical Duke Energy Florida customer will see lower electric bills, this time because of a rate reduction the company is proposing to begin in June to reflect anticipated lower fuel prices.

The company filed a fuel midcourse rate request today with the Florida Public Service Commission to account for lower projections for natural gas costs. Under the proposal, a typical Florida residential customer with a monthly usage of 1,000 kWh would see their bill decline by $5.90, or almost 4%. The savings would be on top of a $11.29 decrease, or about 6%, a decrease that typical residential bills began showing in January.

Similarly, typical commercial and industrial customers will see a bill decrease between 3.5% and 7.0%, varying based on factors, such as industry type and differences in customer use patterns.

"With fuel prices expected to decline, we have an opportunity to lower rates for a second time this year for our customers, just as we prepare for the higher energy usage that come with summer months," said Melissa Seixas, Duke Energy Florida state president. "We remain committed to providing the best possible price for Florida's growing population, while delivering the reliable power and customer service our customers deserve today, tomorrow and for many years to come."

Duke Energy Florida ensures customers receive the best service to their homes, businesses and communities through expertly managing its fuel resources, and its complex systems of power generation, transformers, wires and poles across 13,000 square miles – 24 hours a day, 365 days a year, under the most challenging conditions.

The company also offers several easy-to-use energy efficiency programs and tools to help Florida customers have more control over their energy use and bills.

Available programs include:

Usage Alerts: Get more control over your electricity use and spending. If you have a smart meter, a mobile phone or an email, you'll automatically be enrolled to receive notifications midway through your billing period showing how much electricity you've used along with a projection of your monthly amount, in time to adjust. Learn more at duke-energy.com/UsageAlerts.

Installment Plans/Payment Plans: Pay back balances over longer periods of time. Eligible customers can request flexible plans that give you more time to pay. Learn about the options at duke-energy.com/MoreTime.

Pick Your Due Date: With Pick Your Due Date, you can choose the date you want your energy bills to be due each month. Learn more at duke-energy.com/PYDD.

Due Date Extension: If you know ahead of time that you will miss your due date, this payment option may be for you. Extend your payment due date by up to 10 business days to avoid late fees. Learn more at duke-energy.com/ExtendDueDate.

Budget Billing: Get predictable monthly bills regardless of your energy use or the weather, so it's easier to stay on budget. Plus, there are two convenient payment plans to choose from. Learn more at duke-energy.com/BudgetBilling.

Flexible rate option: Manage your energy costs by shifting energy-intensive tasks to periods of low demand. Learn more about our time-of-use rate at duke-energy.com/TOU.

Free Home Assessment: Complete a free online home energy check to learn how to lower your bill and see if you qualify for rebates and free home energy kit. Get started at onlinehec.duke-energy.com/get-started.

EnergyWise^® Home: Save on your electric bill by getting annual bill credits while helping your community reduce energy use during periods of high demand. Find out if you are eligible at duke-energy.com/EWHSavings.

Weatherization: This program is designed to help income-qualified customers save energy and reduce expenses through the installation of energy conservation measures in their homes. The program is available to single-family homes and multifamily units, both owners and renters with owner approval. Learn more at duke-energy.com/Weatherization.

Customer Assistance: Some customers may qualify for financial assistance from various government and nonprofit programs for utility bills and other household expenses.

To learn more about these programs, visit duke-energy.com/SeasonalBills or call the Customer Care number listed on your energy bill.

Duke Energy Florida

Duke Energy Florida, a subsidiary of Duke Energy (NYSE: DUK), owns 12,300 megawatts of energy capacity, supplying electricity to 2 million residential, commercial and industrial customers across a 13,000-square-mile service area in Florida.

Media contact: Audrey Stasko
Media line: 800.559.3853

SOURCE Duke Energy