TALLAHASSEE, Fla. — Tampa Electric (TECO) customers may be in for a shock when they open up their January bills after the Public Service Commission approved the company's rate increases.
According to TECO, an average residential customer's energy bill will increase by approximately 11 percent, or $14.09, for 1,000 kilowatt-hours of use. That would increase the monthly bill from $132.66 to $146.72 starting in January. TECO said commercial and industrial customers would see an increase between 8 and 12 percent.
TECO said in a statement that even with the price hikes, the company's bills will still be below the national average.
It won't be the last price hike TECO implements in 2023. The company said it expects another rate increase later in the year to reflect uncollected fuel costs for 2022. According to TECO, the increase will be phased in to ease the impact on customer budgets, but the exact rate hasn't been determined.
