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Duke Energy Florida is set to remove a storm cost recovery charge from customer bills a month earlier than planned due to the full amount being collected ahead of schedule. The charge related to costs of around $1.1bn associated with the company’s response to Hurricanes Debby, Helene, and Milton. February bills for residential customers in Citrus County will be approximately $33 lower per 1,000 kilowatt-hours of electricity used, with additional savings expected from March when the company implements its annual seasonal rate adjustment.
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Duke Energy Customers in Citrus County to Receive Unexpected Bill Relief
Citrus County residents who get their power from Duke Energy have good news coming up – their electricity bills will start decreasing sooner than originally scheduled. Duke Energy Florida made an announcement last week that the storm cost recovery charge, related to their response to three hurricanes, will be withdrawn from customer bills a month in advance. Consequently, customers will witness lower monthly costs starting February.
Recovery Charge Removal
The recovery charge was initially aimed at compensating the $1.1 billion costs incurred due to the severe damage caused by Hurricanes Debby, Helene, and Milton across Florida, including Citrus County. However, a recent press release by Duke Energy mentioned that full recovery occurred ahead of schedule, giving the company the opportunity to end the charge early.
Impact on Customer Bills
With the removal of this charge, domestic customers in Citrus County can expect their February bills to be approximately $33 less than January for every 1,000 kilowatt-hours of electricity consumed. Commercial and industrial clients will also benefit with a reduction in monthly bills by 9.6 percent to 5.8 percent, based on usage and other conditions.
Acknowledging the financial burden of the customers, Melissa Seixas, Duke Energy Florida state president, said, “We understand all of our customers have been affected by the rising costs of living, many may be facing financial challenges, and some are even having to decide which bills they can afford to pay every month.” She added, “It was important to us that our customers get this significant rate relief as soon as possible while we continue to deliver the safe, reliable power they expect and deserve.”
Further Savings for Local Customers
Even more savings are in store for the local customers starting March, as Duke Energy Florida will introduce its annual seasonal rate adjustment. This initiative, effective from March through November, is aimed to balance the increased electricity consumption during the hotter months.
As a result of this seasonal adjustment, residential customers in Citrus County can anticipate an additional drop of around $11 per 1,000 kilowatt-hours, making the total savings about $44 per 1,000 kilowatt-hours in comparison to January bills.
Additional Cost Cutting Efforts
Duke Energy Florida also highlighted their recent cost-saving efforts that have benefitted statewide customers. These include efficiency enhancements at natural gas plants that cut fuel costs by $340 million, completion of new solar energy sites that saved about $750 million in fuel costs, and the distribution of $65 million in Inflation Reduction Act tax credits to customers. These credits allow residential customers to save at least $2.50 per 1,000 kilowatt-hours, as per the company.
Furthermore, for Citrus County customers facing difficulties with utility expenses, Duke Energy Florida offers energy-saving programs, flexible payment schemes, and other tools for bill management. More details are provided on the company’s website – duke-energy.com/SeasonalSavings.
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