Tampa Electric Wants To Increase Monthly Bills In 2018

TAMPA, FL - Tampa Electric wants to increase monthly bills for its customers by about $4 per month to restore the company's storm reserve fund, the company announced Thursday. Tampa Electric filed with the Florida Public Service Commission to seek recovery of costs to restore power after Hurricane Irma and several previous storms; tropical storms Erika and Colin, and hurricanes Hermine and Matthew. The company is seeking about $88 million.

For the average customer, who uses 1,000 kilowatt-hours a month, that would add $4 to their monthly bill. In the past three years, the company said restoring power after two tropical storms and three hurricanes has exhausted the company’s storm reserve, which was established to pay for damage from named storms.

The temporary “storm surcharge” would take effect in March and continue throughout 2018, when it would likely be reduced. according to the company. It would cover the company’s storm expenses for the past three years and replenish the storm reserve for future events. Even with the temporary surcharge, the company said Tampa Electric’s bills will remain among the lowest in Florida.

Tampa Electric, one of Florida’s largest investor-owned electric utilities, serves about 750,000 customers in West Central Florida. Tampa Electric is a subsidiary of Emera Inc., a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, Canada.

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