Make us your home page
Instagram

Tampa Electric rates to fall (for now)

TAMPA — Tampa Electric announced Friday plans to slash electric rates by $13 because of falling fuel costs.

The reduction nearly reverses a 12 percent increase that began with January bills. However, the relief may be short-lived if the utility wins another increase slated to hit bills this spring.

Electric rates usually vary from year to year, but rose sharply this year because of last year's soaring fuel costs. In addition to Tampa Electric's recent increase, Progress Energy raised bills a whopping 24 percent to pay for fuel and its $17 billion planned nuclear plant.

The increases have outraged Tampa Bay electric customers, who are struggling with record-high foreclosures, falling property values and soaring unemployment. Both Tampa Electric and Progress Energy have moved quickly in recent weeks to pass along savings that resulted from plummeting fuel prices. Progress Energy announced an 11 percent cut two weeks ago as it lowered fuel rates and its nuclear charge.

Tampa Electric's rates rose from $114.38 per 1,000 kilowatt hours to $128.44 with January bills. The fuel reduction will knock $13 off. However, that could be nearly wiped out by a $10 increase in base rates that, if approved, would hit bills in May.

Utilities are not allowed to profit from fuel, which can be half or more of a customer's bill. It's a pass-through to consumers. Base rates, which are another large segment of bills, includes the company's operations, labor, and maintenance costs as well as its profits.

Asjylyn Loder can be reached at aloder@sptimes.com or (813) 225-3117.

Tampa Electric rates to fall (for now) 02/27/09 [Last modified: Friday, February 27, 2009 11:53pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. For Gov. Rick Scott, 'fighting' could mean vetoing entire state budget

    State Roundup

    Every day, Gov. Rick Scott is getting a lot of advice.

    The last time a Florida governor vetoed the education portion of the state budget was in 1983. Gov. Bob Graham blasted fellow Democrats for their “willing acceptance of mediocrity.”
  2. Potential new laws further curb Floridians' right to government in the Sunshine

    State Roundup

    TALLAHASSEE — From temporarily shielding the identities of murder witnesses to permanently sealing millions of criminal and arrest records, state lawmakers did more this spring than they have in all but one of the past 22 years to chip away at Floridians' constitutional guarantees to access government records and …

    The Legislature passed 17 new exemptions to the Sunshine Law, according to a tally by the First Amendment Foundation.
  3. Data breach exposes 469 Social Security numbers, thousands of concealed weapons holders

    Corporate

    Social Security numbers for up to 469 people and information about thousands of concealed weapons holders were exposed in a data breach at Florida the Department of Agriculture and Consumer Services. The breach, which the agency believes happened about two weeks ago, occurred in an online payments system, spokesperson …

    Commissioner of Agriculture Adam Putnam on Monday that nearly 500 people may have had their Social Security numbers obtained in a data breach in his office.
[Times file photo]

  4. Trigaux: Can Duke Energy Florida's new chief grow a business when customers use less power?

    Energy

    Let's hope Harry Sideris has a bit of Harry Houdini in him.

    Duke Energy Florida president Harry Sideris laid out his prioriities for the power company ranging from improved customer service to the use of more large-scale solar farms to provide electricity. And he acknowledged a critical challenge: People are using less electricity these days. [SCOTT KEELER   |   Times]
  5. Citigroup agrees to pay nearly $100 million fine for Mexican subsidiary

    Banking

    NEW YORK — Citigroup has agreed to pay nearly $100 million to federal authorities to settle claims that a lack of internal controls and negligence in the bank's Mexican subsidiary may have allowed customers to commit money laundering.

    Citigroup has agreed to pay nearly $100 million to federal authorities to settle claims that a lack of internal controls and negligence in the bank's Mexican subsidiary may have allowed customers to commit money laundering. 
[Associated Press file photo]