PSC Gives A Thumbs Down To Duke Rate Hike

Jun 6, 2017

State regulators are rejecting Duke Energy’s request for a mid-year rate hike to cover an unexpected rise in the cost of fuel.

Florida Public Service Commissioner Julie Brown questioned the reliability of Duke Energy's fuel cost projections.
Credit Florida Public Service Commission

Duke says it needed to charge customers more because it underestimated fuel costs by some $182 million.

But Commissioner Julie Brown told the power company’s attorneys they need to do a better job with their forecasts.

The Public Service Commission greenlighted Duke’s fuel cost projections just six months ago.  

Customers who use 1,000 kilowatt hours would have seen about a $5  increase in the fuel portion of their monthly bills.

In a statement, Duke says it was trying to act quickly to avoid socking customers with bigger increases in 2018.

Duke serves about 1.7 million customers in Florida.