PSC Gives A Thumbs Down To Duke Rate Hike
State regulators are rejecting Duke Energy’s request for a mid-year rate hike to cover an unexpected rise in the cost of fuel.
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.