Duke Energy rate hike approved
The Florida Public Service Commission signed off on upcoming rate increases for Duke Energy customers. As FOX 13’s Genevieve Curtis reports, the City of Clearwater is looking into creating its own private utilities – and they’re not alone.
ST. PETERSBURG, Fla. – Duke Energy came to a rate settlement agreement with the Florida Public Service Commission on Wednesday, approving Duke’s 2% bill increase over a three-year period.
While base rates will increase, Duke said recovery costs and other contracts will expire by the end of the year and said customers will see a lower bill in January 2025. However, those rate hikes have led some city leaders in Florida communities to reconsider their relationship with the energy company.
“We’re at the whims of whatever they want to raise their rates to,” said St. Pete City Council member Richie Floyd.
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Floyd wants the city to consider taking some power back – of the electric grid, that is. He’s gotten the discussion rolling on whether the city could break up with Duke Energy and operate its own electric company.
“There’s a lot of big cities that have it and a lot of cities that have it charge people less and use more renewable energy,” said Floyd.
Recent rate hikes sparked the conversation in Clearwater. Just last month, its council voted to charge forward with a $500,000 study to evaluate the feasibility of running their own utility – despite a strong message from Duke’s leadership.
“Duke Energy’s system is not for sale. Not here, not anywhere within the State of Florida,” said Melissa Seixas, the president of Duke Energy Florida. “We will not be negotiating a purchase.”
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Floyd wants to see St Pete do the same and explore all options to at least have leverage when the city heads to the negotiation table with Duke.
“And we need to be armed as best as we can to say, ‘hey, if you don’t treat us, our customers right, treat our city right, we can move on from you if we have to,'” said Floyd.
Floyd said he’s anticipating having an initial conversation on the topic next month, with further discussion later this fall. He said he planned to have discussions with Clearwater leaders as well.
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