When To Expect Lower Electric Bills In Tampa Bay
If you live in the Tampa Bay area then you will get lower electric bills soon.
Lower electric bills are something that we need. So, this is both for TECO and Duke Energy. State regulators approved the plan that will lower your electric bills starting in June. So how much will it save you per month?
Well if you’re a customer of Duke Energy the price for 1,000 kilowatt hours on energy was $160.58. In June after the price decrease has happened that price will go to $154.68. If you’re a customer of Tampa Electric your bill will go from $143.48 to $136.44 for 1,000 kilowatt hours of energy used.
Why Will There Be Lower Electric Bills?
There will be lower electric bills in Tampa Bay because natural gas prices have fallen. The power companies rely on natural gas to fuel power plants. When the prices of natural gas go up, so does your power bill. When they go down your power bill goes down and that is the case here.
Customers will save around $175 for the rest of 2024 after this change in price. There is $233.5 million in savings for Duke Energy customers and $137.9 million savings for Tampa Electric customers.
“Tampa Electric is pleased to be in a position to reduce electricity bills again this year,” said TECO President and Chief Executive Officer Archie Collins in a statement. “We are happy to provide customers with some welcome relief as the summer’s heat begins.”
Power Bills Are Going Down For The Second Time In 2024
This is not the first time this year that Tampa electric and Duke energy customers has seen their power bill go down. Back in January customers had their bills go down by around $18 because of a decline in fuel prices. Florida Power & Light also received approval to lower their bills as well for their customers.