Duke Energy Florida requests to lower rates in 2027

Duke Energy Florida seeks FPSC approval to cut January 2027 bills, avoiding a 2% base rate hike and accelerating $50 million in customer savings.

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Duke Energy (DUK) has asked the Florida Public Service Commission to approve lower customer electric rates starting in January 2027 compared with December 2026 bills.

Typical residential customers using 1,000 kilowatt-hours per month are expected to see a $0.71 bill decrease. Commercial and industrial customers are projected to see reductions between 0.8% and 3.6%, with actual impact varying by usage and other factors.

The company cites lower fuel costs and an innovative tax strategy that avoids a previously planned 2% base rate increase and accelerates $50 million in customer savings for 2027. Ongoing investments in renewable energy, grid-strengthening infrastructure and energy efficiency programs are also highlighted.

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ST. PETERSBURG, Fla., Sept. 3, 2026 /PRNewswire/ -- Duke Energy Florida customers can expect lower rates beginning in January 2027, compared to December 2026, following a request the company filed today with the Florida Public Service Commission (FPSC).

What this means:

• Duke Energy Florida's typical residential customers using 1,000 kilowatt-hours of energy per month should see a $0.71 decrease on their bills from December 2026 to January 2027.
• The company's commercial and industrial customers' bill reductions will range between 0.8% and 3.6% from December 2026 to January 2027, though the impact will vary depending on several factors.

Our view:

"What matters to our customers matters to us, and right now, we know they're carefully watching every dollar," said Melissa Seixas, Duke Energy Florida state president. "While we're glad to start 2027 with a rate decrease, we'll remain focused on making smart, disciplined investments that allow us to keep our costs in check and continue delivering increasingly reliable service all year long."

How we got here:

• Customer rates consist of several components that Duke Energy Florida adjusts annually to set the total bill for the year ahead, pending approval from the FPSC.
  • Among other charges, it includes the price of fuel used to generate power, continued expansion of cost-effective renewable energy and ongoing infrastructure improvements that help reduce outages and allow for faster restoration after storms.
• Some costs, like fuel, are decreasing, while others, such as investments to strengthen the grid, are increasing slightly in 2027. However, a 2% increase in the base rate – another component of the total rate, set by the FPSC in 2024 – is being avoided altogether because of an innovative tax strategy recently implemented by the company to accelerate the delivery of $50 million in customer savings next year.
• Duke Energy Florida is always looking for creative ways to keep costs as low as possible for customers, such as developing more solar energy sites – which do not rely on fuel – and completing efficiency upgrades at its natural gas plants to enable them to produce more power with the same amount of fuel.

Help is available:

Customers are encouraged to take advantage of the many energy efficiency and financial assistance programs offered by Duke Energy Florida, from free assessments of their home's energy use to flexible payment plans. For more information, please visit duke-energy.com/SummerSolutions or duke-energy.com/HereToHelp.

Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns 12,500 megawatts of energy capacity, supplying electricity to 2 million residential, commercial and industrial customers across a 13,000-square-mile service area in Florida. 

Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.7 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,700 megawatts of energy capacity. Its natural gas utilities serve 1.6 million customers in North Carolina, South Carolina, Ohio and Kentucky.

Duke Energy is executing an energy modernization strategy, keeping customer value at the forefront as it invests in electric grid upgrades and efficient generation resources to strengthen the system and serve growing energy needs.

More information is available at duke-energy.com. Follow Duke Energy on X, LinkedIn, Instagram, TikTok and Facebook for stories about the people and innovations powering its communities.

Contact: Aly Raschid
24-Hour: 800.559.3853
X: @DE_AlyRaschid

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SOURCE Duke Energy

FAQ

What did Duke Energy Florida (DUK) announce about 2027 electric rates?

Duke Energy Florida filed a request with the Florida Public Service Commission to lower customer electric rates starting in January 2027 compared with December 2026, citing changing cost components and a tax strategy that accelerates customer savings.

How much will a typical Duke Energy Florida residential bill change in January 2027?

A typical Duke Energy Florida residential customer using 1,000 kilowatt-hours per month is expected to see a $0.71 decrease in their bill from December 2026 to January 2027, if the requested rate changes are approved.

What bill reductions are expected for Duke Energy Florida commercial and industrial customers?

Commercial and industrial customers of Duke Energy Florida are expected to see bill reductions ranging from 0.8% to 3.6% from December 2026 to January 2027. The actual decrease will vary based on each customer’s specific rate structure and usage profile.

Why are Duke Energy Florida rates expected to go down in 2027?

Rates are expected to decline because some cost components, such as fuel used to generate power, are decreasing. In addition, Duke Energy Florida implemented a tax strategy that avoids a 2% base rate increase and accelerates $50 million in customer savings for 2027.

When will the proposed Duke Energy Florida rate changes take effect?

If approved by the Florida Public Service Commission, the proposed Duke Energy Florida rate changes would take effect in January 2027, reducing bills compared with December 2026 levels for residential, commercial and industrial customers.

What customer assistance and energy efficiency programs does Duke Energy Florida mention?

Duke Energy Florida encourages customers to use its energy efficiency and financial assistance programs, including free home energy-use assessments and flexible payment plans. Details are available at duke-energy.com/SummerSolutions and duke-energy.com/HereToHelp.

How is Duke Energy Florida using tax strategy to affect 2027 rates?

Duke Energy Florida implemented an innovative tax strategy that prevents a 2% base rate increase previously set for 2027 and accelerates the delivery of $50 million in customer savings next year, contributing to overall lower bills if regulators approve the request.