Advertisement
  1. Business

TECO customers won't pay for hurricane recovery costs

Tampa Electric wants to use its tax savings to pay for hurricane-related costs last year, instead of passing that on to customers. Shown here is debris left behind by Hurricane Irma last year in a neighborhood called "The Avenues" in Big Pine Key. [EVE EDELHEIT   |   Times  file, 2017]
Tampa Electric wants to use its tax savings to pay for hurricane-related costs last year, instead of passing that on to customers. Shown here is debris left behind by Hurricane Irma last year in a neighborhood called "The Avenues" in Big Pine Key. [EVE EDELHEIT | Times file, 2017]
Published Aug. 20, 2018

It's official — Tampa Electric Co. customers won't be paying for hurricane recovery costs. State regulators on Monday unanimously approved the utility's request to use savings under the new federal tax law to cover hurricane-related costs.

"The ratepayers deserve to get these tax dollars back, and that's what's happening today," Jon Moyle Jr., a lawyer representing the Florida Power Industrial Users Group, said at the Monday hearing. FIPUG advocates on behalf of consumers.

Under the agreement, Tampa Electric customers will not have to pay the $102.5 million that would have gone toward Hurricane Irma recovery efforts and replenishing the utility's hurricane reserves.

That means customer bills will be lower by about $6.50 per month on average effective Jan 1, 2019.

And there could be further savings ahead. Depending on how the Internal Revenue Service classifies the money ratepayers pay toward power plant dismantling, Tampa Electric customers could see another rate reduction. Tampa Electric is currently seeking clarification.

The IRS is expected to take between six months and a year to respond. It's unclear just how much customers would save because of this.

MORE: Get more business news here

Check back for updates

Contact Malena Carollo at mcarollo@tampabay.com or (727) 892-2249. Follow @malenacarollo.

ALSO IN THIS SECTION

  1. More than 44 percent of people who searched on ApartmentList.com for the Tampa Bay area from June to December were outside the region, according to a report from Apartment List. Percentages in the “Top Three Sources” box represent the share of searches coming from outside the metro area. (Apartment List map) [Apartment List]
    The region trails only Denver, Baltimore and San Diego for the percentage of people from outside the area searching for apartments on Apartment List.
  2. To accommodate the swelling numbers of aging baby boomers, experts say we will need to make transportation more readily available, build more affordable housing, modify homes and apartments to help seniors age in place, and create programs to bring young and old people together. [Times (2011)]
    “There’s never been a time like this,” one expert says. Solutions include more health aides, taming long-term care costs and just healthier living.
  3. In this Sept. 20, 2017, file photo Oscar the cat sits in his carry on travel bag after arriving at Phoenix Sky Harbor International Airport in Phoenix. Airlines might soon be able to turn away cats, rabbits and all animals other than dogs that passengers try to bring with them in the cabin. The U.S. Transportation Department on Wednesday, Jan. 22, 2020, announced plans to tighten rules around service animals. The biggest change would be that only dogs could qualify. (Ross D. Franklin | Associated Press] [ROSS D. FRANKLIN  |  AP]
    Soon mainly dogs would be allowed on planes, under plans announced on Wednesday.
  4. The sale of Tampa-based WellCare Health Plans to Centene Corp. is expected to close Thursday, the companies said on Wednesday. [File photo]
    The companies said Wednesday they have satisfied all regulatory approvals, including with the U.S. Department of Justice, for the merger to close.
  5. Power Design has a 22-acre campus in the Gateway area of St. Petersburg. [Rendering courtesy of Power Design]
    In settling the case with the District of Columbia Attorney General’s Office, the electricial contractor company denies that it violated worker classification laws.
  6. Rooker Properties of Atlanta plans to build at least 400,000 square feet of industrial and office space at what is now county-owned  land on Old Pasco Road, Wesley Chapel. Pictured is Rooker's Spartan Ridge Logistics Center, a 273,000-square-foot, Class-A industrial building in Spartanburg, S.C. It was constructed in 2018 and the company said the buildings planned for the Pasco County site will closely resemble this. [Rooker Properties]
    Rick Narkiewicz is seeking tenants for the planned Rooker Properties spec buildings known as North Tampa 75 Business Center.
  7. This home in Colonial Hills neighborhood in west Pasco has been vacant for 10 years, neighbors said. A new Pasco County ordinance would require the owners of vacant and rental residences to register their properties with the Pasco County Sheriff's Office. [C.T. BOWEN  |  Tampa Bay Times]
    A new ordinance is supposed to aid sheriff’s deputies and code-enforcement officers dealing with rental or vacant properties.
  8. Four Tampa Bay businesses made Fortune’s list of “Most Admired Companies” in the world for 2020. Pictured is a Publix location in the Channelside district last year. [OCTAVIO JONES   |   Times (2019)] ["OCTAVIO JONES   |   TIMES"  |  Tampa Bay Times]
    Four Tampa Bay businesses made Fortune’s list of “Most Admired Companies” in the world for 2020.
  9. After a spike last week, gas prices in the Sunshine State are down slightly. Pictured is the Courtney Campbell Causeway in 20098. [Times file] [CLIFFORD, DOUGLAS R.  |  St. Petersburg Times]
    Low demand and higher gas supply are bringing cheaper gas this week, experts said.
  10. Next month the Pirate Water Taxi will debut a 100-passenger vessel and two smaller taxis as part of an expansion of the company's routes and coverage of Tampa's waterfront. (Yacht StarShip) [Yacht StarShip]
    The service, owned by the operator of Yacht StarShip Dining Cruises, is investing $1.6 million in three new vessels and adding a long-desired stop near the Florida Aquarium.
Advertisement
Advertisement
Advertisement