TECO Customers Could See Lower Electric Bills In 2020
Pointing to issues such as low natural-gas prices, Tampa Electric Co. said this week it expects customers’ monthly bills to be reduced in 2020.
The utility on Tuesday made filings with the state Public Service Commission that take into account expenses such as fuel costs for power plants.
If the regulatory commission approves Tampa Electric’s filings this fall, the utility said residential electric bills would drop about 1 percent next year. For a residential customer who uses 1,000 kilowatt hours of electricity a month — a common industry benchmark — that would translate to a $1.06 reduction, the utility said.
Fuel costs make up about a quarter of Tampa Electric customers’ monthly bills. Utilities pass through fuel costs to customers.
Tampa Electric, which has about 765,000 customers, and other utilities have moved increasingly in recent years toward generating electricity with natural gas and solar facilities and away from burning coal.