Duke Energy Customers Should Know By February If Monthly Electric Costs Will Increase

ST. PETERSBURG, FL — A price increase could be seen on many Duke Energy customers' (residential, industrial and commercial) bills in the new year if the Public Service Commission approves a natural gas recovery proposal submitted by the company.

Duke said since January 2021, natural gas prices have increased almost 45 percent and remain volatile due to a number of unique events that drove up prices and caused supply uncertainty. This is impacting not only utility companies but also a variety of other industries that rely on natural gas, too. Natural gas is used as Duke Energy's main fuel source to generate electricity at most of its power plants.

The company has chosen to spread the approximately $247 million recovery over a 12-month period beginning March and ending no earlier than February 2023, a Duke spokesperson said. During the recovery period, a resident who uses 1,000 (kilowatt-hours) will see an increase of about $6.62 in their monthly bill for 2022.

Commercial and industrial customers could see bill increases ranging from 4 percent to 10 percent, Duke said.

"We want to help our customers who may already be struggling to pay their current energy bills,” Melissa Seixas, Duke Energy Florida state president, said. “We are working hard to minimize the impact and provide customers the opportunity to better manage their energy usage and reduce their bills. In addition, we are managing our fuel and generation resources in the most cost-effective manner for our customers, and our rate mitigation plan will continue to reduce some of the price pressure on customers.”

Duke said it is removing the credit card fee for bill payments beginning in 2022 to help customers in price reduction.

Ana Gibbs, Duke Energy spokeswoman, told Patch that they should hear back from the commission with their approval/disapproval of the proposal by February.

Duke Energy owns 10,300 megawatts of energy capacity, supplying electricity to 1.8 million residential, commercial and industrial customers across a 13,000-square-mile-service area in Florida, according to its website. Pinellas County, Hillsborough County, Polk County, Orange County and Pasco County are among its 35 counties served.

If It Is Approved, Duke Energy Has Ways Already In Effect To Save On Your Monthly Bill

Budget Billing

Duke Energy’s Budget Billing option lets customers pay one predictable amount every month to better manage their budget. The amount is periodically reviewed and adjusted. Learn more about Budget Billing here.

Pick Your Due Date

With Pick Your Due Date, customers can choose the date they want their Duke Energy bill to be due each month. Pick Your Due Date can give customers even more control over their energy bills. Learn more.

Track, manage your energy usage
Energy use can spike during the winter since heating is one of the biggest energy users in your home. Customers can easily track and adjust their usage when temperatures are highest.

• Smart meters provide customers with daily and hourly usage information to help them better understand their energy use and take steps to save energy and money. Video here.
• Duke Energy customers with smart meters also receive usage alerts through email and/or text halfway through their billing cycle, well before their bill arrives, with their current usage amount and a projection of what their final monthly bill could be.
• Customers can also set budget alerts, so they know when their bill reaches a specific dollar amount of their choosing, allowing them to adjust their usage and help save money on their bill.

Other energy-saving programs, tips and guidance to help you manage higher energy bills that can result from increased energy are available at Duke-Energy.com/Winter.

Assistance programs

Duke Energy is reaching out to customers who are past due through email and/or text with information about utility assistance administered by agencies in their local communities.

LIHEAP
This income-based program allows those earning below certain thresholds to qualify for federal energy bill assistance money through the Low Income Home Energy Assistance Program (LIHEAP). The qualifying income thresholds are based on factors that include household income and the number of people living in a home. To learn how to qualify and apply for LIHEAP funds, visit: Low-Income Home Energy Assistance Program (LIHEAP).

Homeowner Assistance Fund
The Homeowner Assistance Fund is a new federal program established for homeowners experiencing a financial hardship after Jan. 21, 2020, as a result of COVID-19. Funds will help prevent homeowner mortgage delinquencies, defaults, foreclosures and loss of utility service. Homeowners with an income equal to or less than 150% of the area median (average) income may be eligible. Learn more:

For more information and other money-saving on bills suggestions, visit Duke Energy.