The Florida Public Service Commission (PSC) today permanently extended Tampa Electric Company’s (TECO) Economic Development Rider (EDR), effective May 5. TECO’s customers benefit from the energy discount program that also supports economic investment, grows manufacturing, and creates jobs for Florida.
TECO’s rider program encourages commercial customers to expand or locate new businesses to communities served by the utility. The EDR was first introduced as a three-year pilot in the stipulation and settlement agreement the PSC approved in TECO’s 2013 rate case.
Since June 2014, TECO’s program has attracted new commercial customers that equated to approximately $760,000 in incremental base revenue and added 405 full-time employees (FTEs) in the utility’s service territory. Currently, two commercial customers use the EDR.
To qualify for the EDR, which requires a five-year contract, a participant’s new load must be a minimum of 350 kilowatt (kW) at a single delivery point on TECO’s system. The customer must also certify it employs at least 25 FTEs. TECO is developing an annual attestation letter for companies to remain on the rider program.
The PSC previously approved similar riders for Florida Power & Light Company, Duke Energy Florida, and Gulf Power Company.
For additional information, visit www.floridapsc.com.
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