The Public Service Commission is scheduled to vote today regarding rate increases for Tampa Electric Company (TECO) and Duke Energy.

On December 27, 2024, both TECO and Duke Energy submitted a petition for a limited proceeding, seeking approval to implement an interim storm restoration recovery charge.

Reports indicate that TECO aims to recover $463.6 million for restoration costs related to Hurricanes Idalia, Debby, Helene, and Milton, as well as to replenish their storm reserve.

Customers could notice the recovery storm costs on an interim basis, 60 days after the cost recovery petition and tariff is filed.

TECO has requested a 12-month recovery period that would be applied to all customer bills starting with the first billing cycle of March 2025, according to reports.

If approved, TECO customers could see an additional $30 per month on their bill.

Duke Energy is seeking to recover $1.09 billion for restoration costs related to Hurricanes Debby, Helene, and Milton, as well as to replenish its retail storm reserve, according to the Public Service Commission.

The $1.09 billion also includes interest charges on unrecovered costs from Hurricane Debby.

The recovery of storm costs could begin on an interim basis, 60 days after the petition is filed.

Duke Energy has requested a 12-month recovery period that would be applied to all bills from March 2025 to February 2026, according to the Public Service Commission.

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(Image credit: Duke Energy)