Duke Energy Florida to reduce rates by 6 percent starting in January

Duke Energy Florida is seeking to reduce rates for its customers in January 2025 as part of an annual adjustment for the cost of fuel to generate electricity at the company’s power plants.

Specifically, the company plans to decrease Florida residential rates by approximately 6 percent, while making grid improvements to enhance reliability, security and resilience.

If approved by the Florida Public Service Commission, typical residential customers using 1,000 kilowatt-hours (kWh) will see rates fall by $9.77, or 6 percent, starting in January 2025. Commercial and industrial customers will see bill decreases ranging from 5.1 percent to 11.1 percent, depending on several factors.

Duke Energy Florida has already reduced rates twice this year – in both January and June. Residential customers are currently paying roughly $17 per 1,000 kWh less today, compared to one year ago.

“Duke Energy is consistently looking for creative ways to reduce rates and provide financial relief to our customers,” Melissa Seixas, Duke Energy Florida state president, said. “We work to deliver real value, including a stronger, more reliable grid and cleaner energy.”

The rates for 2025 reflect investments that have resulted in fewer outages and shorter restoration times. Further, the rates include Duke Energy Florida’s annual capacity, energy conservation, storm protection plan and environmental compliance clause costs.

Duke Energy Florida, a subsidiary of Duke Energy, supplies electricity to 2 million residential, commercial and industrial customers across a 13,000-square-mile service area in Florida.

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