Tell the Florida Public Service Commission: No Electricity Price Gouging
After record profits in 2020 and 2021, Florida’s largest utilities ask for another rate hike.
Florida Power and Light, Duke Energy Florida and Tampa Electric Co., the state’s largest monopoly electric utilities, filed petitions on September 2 with at the Florida Public Service Commission to raise electric rates in 2023. If the commission approves the utilities’ petitions, this would result in higher monthly bills for most Floridians in 2023.
The Public Service Commission is expected to vote on the petitions in November.
What is the Public Service Commission?
From Left to Right: Commissioner La Rosa, Commissioner Graham, Chairman Fay, Commissioner Passidomo, Commissioner Clark.
Gov. DeSantis has appointed 4 out of the 5 Public Service Commissioners
The Public Service Commission is made up of five Commissioners, all appointed by the Governor of Florida and approved by the Florida Senate.
Their job is to regulate the state’s utility companies: electricity, telephone, water, waste, etc. Their mission: “To provide a regulatory process that results in fair and reasonable rates while offering rate base regulated utilities an opportunity to earn a fair return on their investments.”
But lately, the PSC has approved some of the biggest electric rate hikes in Florida history.
If you’re tired of the PSC rubber stamping these rate increases, send the commissioners an email using our action tool.
Read More on the Proposed Rate Hike:
The utilities have all submitted filings explaining why they are asking for increased rate hikes (on top of the rate hikes they have just received).
Key excerpts from the filings show how much Duke Energy Florida, Florida Power & Light, and Tampa Electric intend to raise rates.
Duke Energy estimates a 15.15% monthly rate increase
For Duke Energy Florida, the estimated rate hike for customers would be $22.45, or a 15.15% increase.
Tampa Electric Company estimates a 10% monthly rate hike:
Tampa Electric Company’s estimates based on a monthly usage of 1,000 KWH.
The increase would be and additional $14.20 per month (or a 10% rate hike).
FPL estimates a 7.9% monthly rate hike (for customers not in Northwest Florida):
For FPL’s customers (not in Gulf Power territory), the company estimates rate will rise $9.56 per month, or a 7.9% increase.
FPL estimates a 3.1% increase for customers in Northwest Florida (former Gulf Power territory):
For FPL customers in Northwest Florida (formerly Gulf Power territory), customers would see their bills rise to $160.43/month from $155.61, a 3.1% increase.
Immense Profits reported by the energy monopolies:
$3,573,000,000
Nextera's Annual Net Profit for 2021
(Nextera is the parent company of FPL.)
Source:
Nextera Energy annual report
$723,000,000
Emera Energy's Annual Net Profit for 2021
(Emera Energy is the parent company of Tampa Electric)
Source:
Emera annual report