TECO Customers Could Have Higher Electric Bills in 2014

Increasing fuel costs could lead to higher electric bills beginning in January, according to a press release from Tampa Electric.

If the Florida Public Service Commission approves a request that Tampa Electric has filed for projected fuel costs, a residential customer’s monthly bill would rise by about 1 percent.

That means customers would pay $103.85 for 1,000 kilowatt-hours, an increase of $1.27 from $102.58.

Commercial and industrial customers would see bills rise by 1.4 percent and 1.5 percent, respectively, the release states.

The PSC is expected to vote on the fuel, conservation and environmental cost adjustments after a hearing scheduled to begin Nov. 4, according to the release.

“The fuel and other cost adjustments would be in addition to Tampa Electric’s requested base rate increase, which is pending before the PSC,” the release states. “Tampa Electric is seeking an increase of $10.41 a month—or 35 cents a day—for the average residential customer due to rising costs and sluggish growth. Tampa Electric customers’ total monthly bills for 2014 will be determined in December, after the PSC has voted on both the fuel and base-rate adjustments.”

If both requests are approved as filed, Tampa Electric residential customers’ bills would remain about 5 percent below the national average, which is $119.50 per month, according to June 2013 data from the Energy Information Administration, the release states.

What do you think about the possible hike in your electric bill? Tell us in the comments.