Tampa Electric customers will see slightly higher bills in January, according to an annual adjustment to reflect the prices of fuel and other factors. Bills will remain significantly below the national average and among the lowest in Florida.
Today, the Florida Public Service Commission (PSC) unanimously approved portions of a Tampa Electric customer’s bill. The typical residential customer, who uses 1,000 kilowatt-hours, will see their monthly bill rise to $120.86 beginning Jan. 1. This is an increase of $2.79, or 2 percent, from the $118.07 they are paying today. Commercial and industrial customers’ increases will vary, depending on usage.
“We are proud to provide outstanding value to our customers every day,” said Archie Collins, president and chief executive officer of Tampa Electric. “And we are pleased we continue to have bills that are among the lowest in the state – and in the country.”
The January total reflects multiple filings that incorporate expected fuel prices, capacity costs, the Storm Protection Plan, plus a settlement of the company’s recent rate request, which the PSC approved Oct. 21.
Fuel costs are passed through from fuel suppliers to customers with no markup or profit to Tampa Electric. The cost of fuel is currently about one-quarter of a residential customer’s bill. Tampa Electric maximizes the use of existing low-cost, well-performing plants and power purchased from other companies to mitigate costs. The fuel portion of the bill is based on actual costs during the first six months of 2021, projections for the remainder of 2021 and expected fuel prices in 2022.
Tampa Electric’s fuel mix includes about 85 percent natural gas, about 7.5 percent solar and about 7.5 percent coal. Tampa Electric deploys a variety of strategies to manage fuel costs, including optimizing the use of its generating fleet to consume fuel as efficiently as possible and purchasing power from other companies, if it results in a lower cost for customers.
Tampa Electric understands some customers are experiencing financial hardship and wants to help. The company partners with many community agencies to offer programs that support customers in need and offers flexible payment arrangements. More information on resources and programs can be found at tampaelectric.com/updates. It also provides more energy-saving programs than any other utility in the state to help customers manage energy costs. Customers can learn more and sign up at tampaelectric.com/save (residential) and tampaelectric.com/bizsave (business). A variety of appliance calculators also are available online to help customers pinpoint opportunities for savings.
Tampa Electric, one of Florida’s largest investor-owned electric utilities, serves about 800,000 customers in West Central Florida. Tampa Electric is a subsidiary of Emera Inc., a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, Canada.
