Floridians Could Pay More for Electricity in 2023

Three of the largest energy companies filed petitions asking for an increase due to the rising cost of natural gas.

On the coattails of higher housing costs and food prices, Floridians may see heftier electric bills in 2023.

Florida Power & Light (FPL), Duke Energy Florida, and Tampa Electric Co. filed petitions last Friday at the state Public Service Commission and detailed expected costs in 2023. The companies said they are struggling with increased costs of natural gas.

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The three large privately owned utility companies already raised customer bills earlier this year for the same reason, gas prices. 

“Both domestic conditions and international events have significantly impacted the natural gas market. Since early this year, natural gas prices have more than doubled due to increased domestic demand, flat natural gas production, strong LNG (liquefied natural gas) overseas exports, and low natural gas storage inventories. The natural gas market has not stabilized and continues to be extremely volatile,”  Duke’s petition said.

If the petition is approved, it will affect customers who use 1,000-kilowatt hours of electricity a month.

Duke said those customers are projected to pay an average of $170.68 in 2023, up from an average of $148.23 this year.

Tampa Electric said in a news release that their customers would pay $146.86 in 2023, up from $132.66 this year.

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In FPL’s case, since they merged with the former Gulf Power, they will have two sets of rates. Customers who use 1,000-kilowatt hours a month in areas traditionally served by FPL would pay $130.23 in 2023, up from $120.67 this year. In the Northwest Florida areas formerly served by Gulf Power, customers would pay $160.43 in 2023, up from $155.61 in 2022.

The Public Service Commission is expected to consider the petitions in November.