Friday Night Rewind It doesn't matter which team you cheer for. We've got video previews of every high school football program in Hillsborough, Pinellas, Pasco and Hernando County.
If you like the price of gas, you're going to love your electric bill.
Monthly bills may soon reflect the soaring costs of natural gas and oil. Progress Energy could ask state regulators for an increase as early as Friday, spokesman C.J. Drake said. Drake would not say how much of an increase, describing it only as significant.
"We are carefully analyzing our fuel costs," Drake said. "We have noticed significant increases in the cost of coal and oil and purchased power."
The utilities are not allowed to profit from fuel fluctuations. It's a direct pass-through to consumers. Each year, the utilities predict their fuel costs and ask the Florida Public Service Commission to approve the monthly cost to customers. Utilities can ask for a midyear correction if its estimate was significantly off.
Drake said Progress Energy is considering a midyear change. If approved, customers would see the increase late this summer.
Other utilities face the same problems. Laura Duda, a spokeswoman for Tampa Electric, said the utility is burning more coal to avoid burning high-cost natural gas. Tampa Electric has said before that it plans to ask for a rate increase some time this year, but Duda said there were no plans for a midyear increase in fuel charges.
This year, power plants will pay 54 percent more for fuel oil, 33 percent more for natural gas and 6 percent more for coal, predicted the Energy Information Administration, the statistical arm of the Energy Department. Spot prices also have risen sharply.
"Just like at the gasoline pump," David Parker, a senior utility analyst with Robert W. Baird in Tampa. "It's the same ouch."
Progress Energy's fuel charge is currently $42.78 for 1,000 kilowatt hours. The possible fuel cost increases come on top of its plans to raise bills to pay for its $17-billion nuclear project. If it is approved, residential customers could see an increase of about $9 a month starting next year.
Asjylyn Loder can be reached at aloder@sptimes.com or (813) 225-3117.
[Last modified: May 30, 2008 11:55 AM]
Comments on this article
by John
May 30, 2008 11:55 AM
Jason You are nuts no, A/C in Florida
by frodo
May 30, 2008 11:40 AM
Tim- stop with the liberal spin democrats who have stopped all drilling possibilities along with every other form of current energy source is the problem. Unions are the last form of communism and Congress needs to stop all the BS.
by Tim
May 29, 2008 5:46 PM
To hell with all the energy corporations in this country, they all should be nationalized and regualated by the government. Put a stop to corporate rape of the middle class. Bring back regulatory laws and unions to make things fair again for all.
by Jake
May 29, 2008 3:05 PM
I'm so tired of this.Businesses just keep passing their increases on to the public. We can't say "hey, I can't pay you that much because of inflation" so why can they always do this? It hurts the hard working. Glad I live with Mom
by John
May 29, 2008 3:04 PM
And the consumer gets the bill, again. God forbid a utility should suffer reduced profits!
by Dawn
May 29, 2008 2:49 PM
Jolt is an understatement. My bill this month was the highest it's ever been and it's not even July/August yet!
by jason
May 29, 2008 2:47 PM
Turn off the A/C, open windows and use fans. Hang dry pants and shirts instead of using the dryer. My teco bill is only 35 bucks a month. It is not hard to cut your electric bill in half if you really try.
by Jay
May 29, 2008 12:23 PM
I've made changes in my house that do not effect mylife style but have reduced my monthly bill by 20%.
by Ray
May 29, 2008 12:21 PM
When my electric bill goes up because of this - I'll make sure I blame the right folks when I get to the voting booth. The people responsible for this are called Republicans and I won't vote for any of them. Ever again.
by Rick
May 29, 2008 11:18 AM
Progress energy has the money to give it's CEO such a big bonous, they can absorbe the fuel costs. Especially since it goes up for usage over 1000kw. Along with the taxes added to it on the local level makes any incresases really unreasonable.
by Eric
May 29, 2008 11:18 AM
I hope no-one complains about increased utility bills. That's what happens when voters and politicians block off shore drilling here. What that not-in-my-back-yard attitude is really self destructive.
by Bob
May 29, 2008 11:12 AM
Hopefully not the same 40% gas has gone up over the last year. Good thing energy is excluded in inflation numbers. We wouldn't want to think there is a problem with the economy.
by R
May 29, 2008 11:02 AM
One more thing, they need to start paying retail for home solar generation instead of wholesale.
In fact, power companies should fund distributed solar generation. It reduces transmission and distribution costs AND eliminates pass-thru FUEL charges!
by R
May 29, 2008 11:01 AM
Not allowed to profit? When they own the fuel sources, i.e. Electric Fuels it's hard to keep that from happening. They own the coal mines, barge fleets, train cars/engines, and repair facilities.
They get the use of your money until a "correction".
by Dee
May 29, 2008 10:52 AM
well everthing else is going up this should not be a suprise to anyone
by dee
May 29, 2008 10:52 AM
can you say blackout oil lamp and bbq grill well be used more why dont ya keep things like it is help the people out not ya wallets
by wendy
May 29, 2008 10:52 AM
Who does the end user have to pass prices on to? And you want us to continue to float this economy by spending at the malls,etc? Don't give the pass through to them PSC. They already want us to upfront pay for nuclear plants in Levy!!
by Michael
May 29, 2008 10:51 AM
I'm sure whatever it is it will affect a lot of peoples ability to afford eletric and will have drastic results when people cant afford to turn on their AC in this 90 degree heat
by Bob
May 29, 2008 10:48 AM
Ouchhh! Is anyone looking out for us? They are still making solid cash, let them eat this cost for once
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