This is an interesting situation as far as the cost of energy and electric in the state of Florida is concerned as The Florida Public Service Commission formally approved Duke Energy Florida’s proposed energy rate agreement on Wednesday August 21st. While the first thing we see is an increase of the base rate annually from 2025 to 2027 and the obvious first thought is now it will cost even more to keep the lights on, but we dug further into this to provide some context.
Plenty of Florida sun to create clean powerPhoto byAndreas GücklhornonUnsplash
Back on July 15, 2024, Duke Energy Florida, consumer representatives and business groups reached a comprehensive agreement that will increase reliability and also advances the clean energy vision for the state. They also have an additional focus on ways to assist and pass on savings to customers. It appears that this group was able to lower the original budget ask of $503 million in 2025 down to $203 million, so they cut $300 million of cost in the plan.…