Tampa Electric (TECO) Wants To Raise Your Rates!

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UPDATED: December 19, 2024

The Florida Public Service Commission (PSC) approved a rate schedule for Tampa Electric Co. (TECO) customers, that will have the average residential customer using 1000 kWh/month paying $9.14 more each month, starting in January 2025, with subsequent increases in 2026 and 2027.

Here are the details of the rate increase:

• Residential customers who use 1,000 kilowatt-hours (benchmark used in the utility industry) a month will see a bill increase of $9.14, or 6.7% in 2025.

• These new rates do not include storm restoration costs (Hurricanes Helene and Milton), which will be filed at a later date.

• The return on equity (shareholder profit) will increase to 10.5%, up from 10.2%.

AARP urges you to remain vigilant and stay informed. We encourage you to continue to engage in advocacy efforts like sharing your story or speaking to your elected officials.

Please fill out our brief questionnaire so we can collect your story about how this rate increase impacts you. Personal experiences can make a significant difference in shaping fair utility policies.

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In The News

TECO customers will see higher rates starting in 2025, WUSF | By Jim Saunders - News Service of Florida, Dec. 20, 2024

Tampa Electric rate hikes will officially start in January, By Emily Mahoney, Tampa Bay Times, Dec. 19, 2024
 
Here’s how much your Tampa Electric bill is likely about to go up, By Emily Mahoney, Tampa Bay Times, Dec. 13, 2024

Regulators reject a staff recommendation to slash TECO rate increases in half, WUSF, Dec. 5, 2024, By Jessica Meszaros

Are TECO bills increasing? Here's what's happening with the proposed rate hikes, WFTS Tampa Bay, Dec. 4, 2024

TECO customers to see higher bills in January after rate hike approved
TECO requested permission to charge customers about an extra $400 million over three years. Channel 10, WTSP, Tampa Bay, Jim Turner (News Service of Florida)

Florida regulators approve Tampa Electric charging residents more so big companies save
The vote by the utility commissioners defied the recommendation of their staff.
By Emily L. Mahoney Times staff Dec. 3, 2024

Florida regulators weigh-in on potential TECO rate hikes in 2025
VIDEO2
News 10 Tampa Bay, Jim Saunders (News Service of Florida), Aug. 26, 2024
 
Don’t let Duke Energy and Tampa Electric prioritize profit over people
The Florida Public Service Commission should scrutinize Duke Energy and Tampa Electric’s proposed rate hikes. Opinion | Guest Column: Allison Kvien, Heaven Campbell
Tampa Bay Times, 10 July 2024

Electric companies eye increases, foreshadowing dark time for Florida consumers | Commentary, Jacksonville Times-Union, July 5, 2024

Across Florida, residents fear impact of higher Duke, Tampa Electric rates, Tampa Bay Times, 20 June 2024

Tampa Electric Proposes Rate Hike For 2025, Citing Increased Demand And Investment, Tampa Free Press, June 17, 2024

Hillsborough County citizens call on Florida PSC to reject TECO rate increase proposal, Florida Phoenix, June 13, 2024

Public weighs in on TECO's proposed rate hikes, News Channel 10 Tampa, June 13, 2024

TECO customers protest company's request to raise rates next year: 'I'm already struggling', Fox News 13, Tampa, June 13, 2024

Here's how Duke, Tampa Electric customers can weigh in on rate hike requests, Tampa Bay Times, June 3, 2024

Tampa Electric proposes residents pay millions more so big companies save, Tampa Bay Times, May 10, 2024

TECO cites growing Florida population and inflation in request to raise prices, By Jim Saunders and News Service of Florida, Feb 2, 2024