Duke Energy Florida Implements Third Rate Reduction of 2026
In May, Duke Energy Florida announced its third rate reduction of the year, as the company lowered customer bills by 25 percent per 1,000 kilowatt-hours when compared to January.
“We know it feels like every bill is higher right now – from housing to groceries to power – and that can put a strain on families. We also understand that our customers depend on us to provide safe, reliable energy, day in and day out, at the lowest possible price," Duke Energy Florida State President Melissa Seixas said in a statement. “This is the third rate reduction for our customers this year, supporting our commitment to delivering positive outcomes that have a real, tangible impact on their wallets and in their lives.”
The reduction reflects the difference between anticipated storm cost recovery related to hurricanes Debby, Helene, and Milton, and what the company actually incurred. Rates were reduced for a similar reason in February. Duke Energy Florida also cut rates in March, as it does every year, to support customers during a period when energy use is typically higher.
Additionally, Duke Energy Florida estimates its customers will save more than $1 billion from infrastructure investments the company made last year to expand its generation portfolio, upgrade natural gas plants, make infrastructure more weather-resilient, and deploy self-healing grid technologies.
Across the country, EEI member companies will invest more than $1.4 trillion during the next five years to make the grid stronger, more resilient, and more efficient – allowing them to meet rising energy demand while continuing to deliver the reliable, affordable energy that customers count on. They will invest more than $238 billion this year alone.
Many, like Duke Energy Florida, are also freezing or reducing rates. In March, Pacific Gas and Electric Company lowered electric rates for the fifth time since 2024. In May, Georgia’s public service commission approved a plan to lower rates by roughly $50 per year for the typical residential customer after previously instituting a multi-year rate freeze, thanks in part to Georgia Power’s work with data center developers. Similar rate freezes have been approved in Alabama and Iowa and proposed in Michigan.
A recent study from Concentric Energy Advisors (CEA) identified the grid’s 22,000 generators, 55,000 substations, 642,000 miles of high-voltage transmission lines, and 6.3 million miles of distribution infrastructure as “the enabling platform for economic and national security,” delivering “reliable power to all sectors of the economy, including essential services such as defense, emergency response, water systems, and communication.”