Tampa Electric (TECO) Wants To Raise Your Rates!

UPDATED: December 19, 2024

What’s new?

The Florida Public Service Commission (PSC) approved a rate schedule for Tampa Electric Co. (TECO) customers, that will have the average residential customer using 1000 kWh/month paying $9.14 more each month, starting in January 2025, with subsequent increases in 2026 and 2027.

What it means for you?

Here are the details of the rate increase:

• Residential customers who use 1,000 kilowatt-hours (benchmark used in the utility industry) a month will see a bill increase of $9.14, or 6.7% in 2025.

• These new rates do not include storm restoration costs (Hurricanes Helene and Milton), which will be filed at a later date.

• The return on equity (shareholder profit) will increase to 10.5%, up from 10.2%.

What you can do...

AARP urges you to remain vigilant and stay informed. We encourage you to continue to engage in advocacy efforts like sharing your story or speaking to your elected officials.

Please fill out our brief questionnaire so we can collect your story about how this rate increase impacts you. Personal experiences can make a significant difference in shaping fair utility policies.

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In The News

TECO customers will see higher rates starting in 2025, WUSF | By Jim Saunders - News Service of Florida, Dec. 20, 2024

Tampa Electric rate hikes will officially start in January, By Emily Mahoney, Tampa Bay Times, Dec. 19, 2024

Here’s how much your Tampa Electric bill is likely about to go up, By Emily Mahoney, Tampa Bay Times, Dec. 13, 2024

Regulators reject a staff recommendation to slash TECO rate increases in half, WUSF, Dec. 5, 2024, By Jessica Meszaros

Are TECO bills increasing? Here's what's happening with the proposed rate hikes, WFTS Tampa Bay, Dec. 4, 2024

TECO customers to see higher bills in January after rate hike approved

TECO requested permission to charge customers about an extra $400 million over three years. Channel 10, WTSP, Tampa Bay, Jim Turner (News Service of Florida)