PSC Approves Final Storm Recovery Costs for Duke Energy Florida
TALLAHASSEE — The Florida Public Service Commission (PSC) approved final storm restoration recovery costs of $431.4 million for Duke Energy Florida, LLC (DEF). Recovery costs are associated with charges for Hurricanes Elsa, Eta, Ian, Isaias, and Nicole, and Tropical Storm Fred.
In December 2023, the PSC approved a reduced interim storm restoration recovery charge for DEF’s customers, reflecting an overall $10.7 million reduction in recovery costs and including recovery costs for Hurricane Idalia, which struck in August 2023. The current $5.09 monthly hurricane cost recovery charge for a DEF residential customer using 1,000 kWh will continue through December 2024.
Following the recovery period, revenues collected from the storm charge will be compared to final approved recoverable costs to determine any over- or under-recovery. DEF will use the fuel energy charge to either refund or true-up storm restoration costs.
DEF supplies electricity to 2 million residential, commercial, and industrial customers across a 13,000-square-mile service area in Florida.
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