Regulators approve Duke Energy Florida's request to lower rates in 2025
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~ In a recent decision, the Florida Public Service Commission has approved Duke Energy Florida's request to lower rates and decrease customer bills in January 2025. This annual adjustment is for the cost of fuel used to generate electricity at the company's power plants, as well as other clause adjustments.

According to the commission's approval, typical residential customers using 1,000 kilowatt-hours (kWh) will see a decrease of $9.77 on their January 2025 bill compared to December 2024. Commercial and industrial customers will also see a decrease in their bills ranging from 5.1% to 11.1%, although the exact impact will vary depending on several factors.

Melissa Seixas, Duke Energy Florida state president, expressed gratitude for the opportunity to offer customers this much-needed break after recent hurricanes devastated many homes, businesses, and communities. She also emphasized that while the company is still assessing the cost of its response to these storms, they remain committed to prioritizing affordability for their customers while working towards developing a smarter and stronger electric grid.

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The approved rates also include costs for fuel, capacity, energy conservation, and environmental compliance clauses. This decision allows Duke Energy Florida to continue making improvements to its electric grid consistent with its storm protection plan in order to enhance security, reliability, and resiliency beyond 2025.

However, it should be noted that the company anticipates filing for storm cost recovery for hurricanes Debby, Helene, and Milton in December 2024. This could potentially impact rates as early as March 2025.

Duke Energy Florida also offers financial assistance programs such as flexible billing options and the Share the Light Fund for customers in need. Customers can learn more about these programs by contacting the Customer Care phone number listed on their bills or by visiting duke-energy.com/HereToHelp.

Duke Energy Florida is a subsidiary of Duke Energy and supplies electricity to 2 million residential, commercial, and industrial customers across a 13,000-square-mile service area in Florida. Duke Energy, a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. Its electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky.

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As part of its commitment to a clean energy transition, Duke Energy is working towards net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company is investing in major electric grid upgrades and cleaner generation technologies such as expanded energy storage, renewables, natural gas, and nuclear.

For more information about Duke Energy and its initiatives, visit duke-energy.com or the Duke Energy News Center. Customers can also follow Duke Energy on X, LinkedIn, Instagram and Facebook for updates and visit illumination for stories about the people and innovations powering their energy transition.

Media contact: Ana Gibbs

24-Hour: 800.559.3853

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