Duke Energy Wants To Raise Your Rates!

UPDATED: July 24, 2024

Duke Energy was seeking approval for an $820 million increase from the Florida Public Service Commission (PSC). This rate hike would burden households already struggling with rising costs. Your household expenses were at stake, and we needed you to take action and fight back.

AARP Florida acknowledges that the Office of Public Counsel (OPC), Duke Energy and other intervenors have filed a proposed settlement agreement regarding Duke’s proposed rate increase. As the Florida Public Service Commission reviews the proposal, AARP Florida emphasizes the importance of listening to Duke customers. Read the full release here.

Here are the details of the Duke settlement agreement, pending PSC approval:

• $727 million increase instead of the initially proposed $2.1 billion

• Return on Equity (ROE) set at 10.3% (range 9.3 to 11.3%)

• $30 minimum charge, except for low-income customers

• Rates frozen until December 31, 2027

• No disconnections allowed when temperatures are 95 degrees or higher

While this settlement reflects some positive changes, there will likely be future attempts to further increase rates. AARP urges you to remain vigilant and informed.


In The News

Duke Energy cuts Florida rate hike request by hundreds of millions, In a new agreement, the utility also pledged to stop electricity shutoffs when temps rise to at least 95 degrees. Emily Mahoney, Tampa Bay Times, 17 July 2024

Duke Energy Florida rate settlement reached, WKMG News 6 Tampa Bay, July 15, 2024

Duke Rate Settlement Reached, News Service Florida, July 16, 2024, By Jim Saunders

Duke Rate Case Put on Hold, News Service Florida, July 12, 2024

Don’t let Duke Energy and Tampa Electric prioritize profit over people
The Florida Public Service Commission should scrutinize Duke Energy and Tampa Electric’s proposed rate hikes. Opinion | Guest Column: Allison Kvien, Heaven Campbell
Tampa Bay Times, 10 July 2024

Duke Energy bid to raise Florida rates moves toward resolution
How much shareholder profit will Duke end up making from customers? , Tampa Bay Times, July 9, 2024

Electric companies eye increases, foreshadowing dark time for Florida consumers | Commentary, Jacksonville Times-Union, July 5, 2024

Across Florida, residents fear impact of higher Duke, Tampa Electric rates, Tampa Bay Times, 20 June 2024

Floridians urge FPSC to reject Duke Energy rate increase, Spectrum News 9, June 13, 2024

Here's how Duke, Tampa Electric customers can weigh in on rate hike requests, Tampa Bay Times, June 3, 2024

Duke, Tampa Electric reveal how much Florida electric bills may change in 2025, Tampa Bay Times, April 2, 2024