Duke Energy Florida requests to lower rates in 2027

Duke Energy Florida customers can expect lower rates beginning in January 2027, compared to December 2026, following a request the company filed today with the Florida Public Service Commission (FPSC).

What this means: Duke Energy Florida's typical residential customers using 1,000 kilowatt-hours of energy per month should see a $0.71 decrease on their bills from December 2026 to January 2027. The company's commercial and industrial customers' bill reductions will range between 0.8% and 3.6% from December 2026 to January 2027, though the impact will vary depending on several factors.

Our view: "What matters to our customers matters to us, and right now, we know they're carefully watching every dollar," said Melissa Seixas, Duke Energy Florida state president. "While we're glad to start 2027 with a rate decrease, we'll remain focused on making smart, disciplined investments that allow us to keep our costs in check and continue delivering increasingly reliable service all year long."

How we got here: Customer rates consist of several components that Duke Energy Florida adjusts annually to set the total bill for the year ahead, pending approval from the FPSC. Among other charges, it includes the price of fuel used to generate power, continued expansion of cost-effective renewable energy and ongoing infrastructure improvements that help reduce outages and allow for faster restoration after storms. Some costs, like fuel, are decreasing, while others, such as investments to strengthen the grid, are increasing slightly in 2027. However, a 2% increase in the base rate – another component of the total rate, set by the FPSC in 2024 – is being avoided altogether because of an innovative tax strategy recently implemented by the company to accelerate the delivery of $50 million in customer savings next year.

Duke Energy Florida is always looking for creative ways to keep costs as low as possible for customers, such as developing more solar energy sites – which do not rely on fuel – and completing efficiency upgrades at its natural gas plants to enable them to produce more power with the same amount of fuel.

Help is available: Customers are encouraged to take advantage of the many energy efficiency and financial assistance programs offered by Duke Energy Florida, from free assessments of their home's energy use to flexible payment plans. For more information, please visit duke-energy.com/SummerSolutions or duke-energy.com/HereToHelp .

Duke Energy Florida, a subsidiary of Duke Energy, owns 12,500 megawatts of energy capacity, supplying electricity to 2 million residential, commercial and industrial customers across a 13,000-square-mile service area in Florida. Duke Energy Duke Energy (NYSE: DUK ), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.7 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,700 megawatts of energy capacity. Its natural gas utilities serve 1.6 million customers in North Carolina, South Carolina, Ohio and Kentucky. Duke Energy is executing an energy modernization strategy, keeping customer value at the forefront as it invests in electric grid upgrades and efficient generation resources to strengthen the system and serve growing energy needs. More information is available at duke-energy.com . Follow Duke Energy on X, LinkedIn, Instagram, TikTok and Facebook for stories about the people and innovations powering its communities.