Florida commission won't reconsider Tampa Electric's rate hikes
The Florida Public Service Commission upheld its approval of Tampa Electric's controversial rate increase, which the state's consumer advocate called "egregiously excessive."
Why it matters: Tampa Electric's 775,000 residential customers across Hillsborough, Polk, Pasco and Pinellas counties are now paying at least $109 more a year due to the rate hike that took effect in January.
Catch up quick: In December, the commission signed off on Tampa Electric's plan to increase rates by $185 million in 2025, with increases of $86.6 million in 2026 and $9.1 million in 2027 expected to follow.
The increase shifted the cost burden from large companies to residential customers and smaller businesses.
The state Office of Public Counsel and consumer groups — Florida Rising and LULAC Florida — asked the commission to reconsider its approval of the rate hikes in February.
The latest: The commission on Tuesday refused to reconsider Tampa Electric's rate hike but agreed to correct a calculation error identified by the Office of Public Counsel.
Between the lines: Commission staff said in a recommendation that the approval of TECO's rate hike was "reasonable" and well-supported.
Staff cited, in part, Tampa Electric's "unique risks" as a concentrated service area vulnerable to hurricanes.
The Office of Public Counsel argued in its Feb. 18 filing that Tampa Electric's storm risk is addressed via existing tools, such as the Storm Cost Recovery Mechanism.
TECO used the mechanism after hurricanes Debby, Helene and Milton, adding $20 to residents' monthly bills on top of this year's rate increases.
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