Duke Energy Florida earlier this month proposed an electricity rate hike to mitigate the impact of volatile natural gas prices.

Florida electricity gen

The “fuel adjustment” would be tacked onto residential, commercial and industrial power bills from March through at least February 2023, the Duke Energy Corp. subsidiary said. The measure would translate to a $6.62 increase in the monthly bill of a typical residential customer using 1,000 kWh. The impacts on commercial and industrial bills would range from a 4% to 10% increase.

By spreading the adjustment over at least 11 months, the company is aiming to minimize the impact on customers, according to Duke Energy Florida’s Melissa Seixas, who is president of the state’s operations.

[Download Now: In our 2024 Natural Gas Outlook Report ‘Future...