Duke files for rate hike, expects lower bills
February 2, 2024 - St. Petersburg-based Duke Energy has notified the Florida Public Service Commission that it plans to increase annual base rates by about 4% from 2025 through 2027. However, company officials expect bills to decrease in 2025 due to “2022 fuel under-recovery, storm restoration cost recovery and legacy purchased power contracts” expiring at the end of 2024. The announcement states that Duke must “anticipate changes driven by population growth, technological advancements and customer expectations.”