TL/DR –
Duke Energy Florida is set to implement its third rate reduction in 2026, which will lower residential customer bills by about 25% for every 1,000 kilowatt-hours used. This comes as a part of Duke Energy’s commitment to providing energy at the lowest possible price to customers, with past reductions coming from the early removal of storm cost recovery charges, and seasonal decreases to help customers save money. The company continues to look for new ways to save customers money, such as efficiency improvements at its natural gas plants and the completion of four new solar energy sites, which have resulted in significant customer savings.
“`html
Duke Energy Florida Announces Third Rate Cut of 2026
ST. PETERSBURG, Fla. – Duke Energy Florida’s residential customers are to receive their third rate reduction for 2026 from June to September. The reduction will see bills go down by around $50, which is about a 25% decrease for every 1,000 kilowatt-hours (kWh) of energy used compared to January rates.
Rate Reduction Breakdown for Duke Energy Florida’s Customers
Here is a detailed look at the rate reductions that Duke Energy Florida’s residential customers using 1,000 kWh per month have experienced and will experience:
- February 2026: An early removal of the storm cost recovery charge led to a decrease of approximately $33. This charge was associated with the company’s response to hurricanes Debby, Helene, and Milton. The details can be found here.
- March 2026: A further reduction of approximately $11 was applied by the company to help customers save money during peak energy usage periods (March through November).
- June 2026: An additional $6 decrease, effective till September, reflects the difference between the storm cost recovery amount collected and the actual amount expended by the company.
- Total: The combined savings from these reductions amount to approximately $50.
“We understand our customers’ dependence on us to provide safe, reliable energy at the lowest possible price,” says Melissa Seixas, Duke Energy Florida state president. “Our commitment to delivering positive outcomes is evidenced by our third rate reduction for customers this year. These savings will have a tangible impact on their wallets and lives.”
Understanding “True Up”
Duke Energy Florida ensures customers only pay for the actual cost of 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 (about $1 billion) and the actual amount incurred by the company (approximately $915 million) following the 2024 hurricane season. This adjustment will result in a decrease in fuel rates from June through September 2026.
For residential customers using 1,000 kWh, the “true up,” along with FPSC-approved recovery costs associated with the company’s newest solar energy site, will result in an approximately $6 net decrease on bills compared to March through May 2026. Commercial and industrial customers can also expect bill decreases ranging from 3.3% to 7.4% during the same period, although the specific impact will vary.
Additional Savings and Support for Customers
Duke Energy Florida continues to explore new and creative ways to create additional savings for customers, including:
- Efficiency improvements at several of its natural gas plants have saved customers $340 million in fuel costs. This translates to $10 savings on customers’ monthly bills. More about these savings can be found here.
- Four new solar energy sites have been completed in Madison, Hernando, and Sumter counties. This has saved customers another $1 billion from displaced fuel costs.
- The Inflation Reduction Act tax credits of $65 million have been passed on to customers, which will only increase as more solar energy sites come online. This is saving residential customers at least $2.50 per 1,000 kWh.
Duke Energy Florida also offers flexible payment plans to manage bills. More information can be found at duke-energy.com/HereToHelp.
About Duke Energy Florida
Duke Energy Florida is a subsidiary of Duke Energy. It owns 12,500 megawatts of energy capacity and supplies electricity to 2 million residential, commercial, and industrial customers across a 13,000-square-mile service area in Florida.
Duke Energy (NYSE: DUK) is a Fortune 150 company based in Charlotte, N.C. It’s one of America’s largest energy holding companies, serving 8.7 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky, with a total of 55,700 megawatts of energy capacity. It also serves 1.6 million natural gas utilities customers in North Carolina, South Carolina, Ohio, and Kentucky.
Duke Energy is currently executing an energy modernization strategy which includes investing in electric grid upgrades and efficient generation resources to strengthen the system and meet growing energy needs. More information about Duke Energy can be found 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
“`
—
Read More US Economic News