News Column

Lower fuel costs could reduce TECO bill

August 22, 2014

By Richard Mullins, Tampa Tribune, Fla.

Aug. 22--With falling natural gas prices, Tampa Electric customers could pay $1.22 less a month for electricity in January than they do today -- even after a planned increase later this year.

Tampa Electric today filed paperwork with state utility regulators that lays out cost projections for fuel and delivery. If the new rates are approved, a residential customer's monthly bill would drop by $1.22, to $108.39 for 1,000 kilowatt-hours (kWh), about a 1 percent decrease from the current $109.61 a month. Commercial and industrial customers would see bills decrease by 1.7 percent and 3 percent, respectively.

"Tampa Electric continues to have some of the lowest rates in Florida," Gordon Gillette, president of Tampa Electric, said in a statement. "We are proud to provide outstanding value to our customers every day -- for about the cost of a gallon of gasoline."

In November, the average Tampa Electric residential customer bill will rise by 53 cents, as part of the 2013 rate settlement that is being phased in over three years, according to Tampa Electric. The January reduction for fuel and other clauses -- of $1.75 -- would more than offset that increase, ending with a net reduction of $1.22 a month for the average residential customer from what they pay today.

The state's Public Service Commission is expected to vote on the matter October 22.

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Source: Tampa Tribune (FL)

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