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NEWS RELEASE


11/04/2020 Contact: 850-413-6482

Florida PSC Approves Cost Recovery Charges


TALLAHASSEE — Florida’s Public Service Commission (PSC) has set recovery charges beginning in January 2021 for Florida’s investor-owned electric utilities: Florida Power & Light Company (FPL), Tampa Electric Company (TECO), Gulf Power Company (Gulf), and Florida Public Utilities Company (FPUC).

By Florida Statute and established Commission policy, electric utilities may recover certain expenses and capital investments from customers through cost recovery charges adjusted annually by the PSC.  Cost recovery is allowed on fuel and purchased power, capacity, conservation, environmental requirements, and storm protection plan costs. Utilities may not, however, earn a profit on fuel charges.

The majority of the charges approved today are related to fuel and are included in the fuel charge on customers’ bills.  All other approved charges are included in the energy charge, which also includes the utilities’ base rate charge. Including base rate changes, monthly bill charges in January 2021 for a residential customer using 1,000 kilowatt hours (kWh) are:

FPL: The current monthly residential bill of $96.43 for 1,000 kWh usage will change to $99.05, an increase of $2.62.
FPL recovery amounts include: fuel and purchased power $21.23, capacity $2.04, conservation $1.49, environmental $1.49, storm protection plan $0.42, and Gross Receipts Tax $2.48.

TECO: The current monthly residential bill of $97.69 for 1,000 kWh usage will change to $105.25, an increase of $7.56.
TECO recovery amounts include:  fuel and purchased power $28.56, capacity $0.02, conservation $1.66, environmental $2.69, storm protection plan $2.39, and Gross Receipts Tax $2.63.

Gulf: The current monthly residential bill of $140.43 for 1,000 kWh usage will change to $140.62, an increase of $0.19.
Gulf recovery amounts include: fuel and purchased power $30.70 capacity $9.15, conservation $0.90, environmental $19.92, storm damage $8.00, storm protection plan $0.37, and Gross Receipts Tax $3.52.

FPUC: The current monthly residential bill of $134.80 for 1,000 kWh usage will change to $129.88, a decrease of $4.92.
FPUC recovery amounts include: fuel and purchased power $69.61 (includes capacity), conservation $1.50, storm damage $14.34, and Gross Receipts Tax $3.25.

The cost recovery amounts for Duke Energy Florida, LLC are expected to be addressed by the PSC in December.

For additional information, visit www.floridapsc.com.

Follow the PSC on Twitter, @floridapsc.