Duke Energy Florida customers to see lower rates in 2027

ST. PETERSBURG, Fla. - Duke Energy Florida customers will soon pay less for electricity following the Florida Public Service Commission's (FPSC) approval of the company's request to lower rates in 2027.

Big picture:

• Typical residential customers using 1,000 kilowatt-hours (kWh) of energy per month will see a $33 decrease in their January 2027 bills when compared to January 2026.
  
• This reduction is due, in part, to an innovative tax strategy Duke Energy Florida recently implemented to avoid an increase in the base rate that was scheduled for 2027.
  
• The company will continue investing in customer priorities, such as expanding cost-effective renewable energy and upgrading infrastructure to reduce outages and allow for faster restoration after storms.

Our view:

"Duke Energy Florida is committed to delivering real, tangible value for the essential service we provide," said Melissa Seixas, Duke Energy Florida state president. "In addition to lowering rates in 2027, we'll continue working to strengthen our system and further improve the reliability we know our customers count on to live their lives, raise their families and run their businesses every day."

More details:

• From December 2026 to January 2027, rates will decrease:
  
  • Approximately $0.95 for residential customers using 1,000 kWh of energy per month
    
  • Between 0.9% and 3.8% for commercial and industrial customers, though the impact will vary depending on several factors
    
• In March 2027, residential customers will see an additional $10 decrease per 1,000 kWh, reflecting a temporary reduction DEF implements every March through November to offer relief when energy use is often highest.

Help is available:

Duke Energy Florida offers several energy efficiency and financial assistance programs, from free home and business energy assessments to flexible payment plans. For more information, customers can visit duke-energy.com/Savings or duke-energy.com/HereToHelp.

Duke Energy Florida

Duke Energy Florida, a subsidiary of Duke Energy, owns 12,500 megawatts of energy capacity, supplying electricity to 2 million residential, commercial and industrial customers across a 13,000-square-mile service area in Florida.

Duke Energy

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.7 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,700 megawatts of energy capacity. Its natural gas utilities serve 1.6 million customers in North Carolina, South Carolina, Ohio and Kentucky.

Duke Energy is executing an energy modernization strategy, keeping customer value at the forefront as it invests in electric grid upgrades and efficient generation resources to strengthen the system and serve growing energy needs.

More information is available 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