TECO customers to see an 11% increase for monthy bills next year, company says

The utility cites fuel costs and other projects for the increase.

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TAMPA, Fla. — Tampa Electric says it, too, hasn’t been immune this year when it comes to rising costs — fuel and otherwise.

Some of those costs will be passed down to customers in the form of a bill increase. People can expect to see their monthly energy bill increase by about 11%, or by $14.09 to $146.72 for every 1,000 kilowatt-hours of use, TECO announced Tuesday in a news release. 

The increase was finalized by the Florida Public Service Commission.

For commercial and industrial customers, expect to see a bill increase between 8% to 12% depending on the amount of energy usage, TECO says.

“We recognize the economic challenges our customers are facing, and we know that an increase is not welcome news,” Archie Collins, president and chief executive officer of Tampa Electric, said in a statement. “We are doing everything we can to reduce the effect of rising fuel costs, and we are working with customers to help manage their bills today.”

The bill increase for customers will begin in January, the company says. The new charge for customers still remains below the national average, which is about $163.20 per 1,000 kilowatt-hours, and also one of the lowest prices across Florida, the news release mentioned. 

TECO says they are expecting another price increase for their services next year, as well, to reflect the uncollected fuel costs in 2022. To help customers, TECO will insert that second planned bill increase slowly and reduce the impact on people’s budgets. 

The company cited investments in clean and renewable power to help reduce overall fuel costs and says it’s helping customers who may need help paying their bills by offering payment assistance programs.

For those who will need help paying their electric bill next year, TECO suggests giving its customer service a call to set up a payment plan and possibly explore other final support programs.