Duke Energy Florida Cuts Residential Bills by 25%, Saving $50 per 1,000 kWh
DUK•Duke Energy Florida’s third 2026 rate cut will cut residential bills by about $50 (25%) per 1,000 kWh from June through September. This decrease stems from a $6 net fuel-rate true-up after a $915 million storm cost versus $1 billion collected gap, following earlier $33 and $11 cuts.
1. Third Rate Reduction Cuts Residential Bills
Duke Energy Florida’s third rate reduction of 2026 will lower residential customer bills by approximately $50, or 25%, per 1,000 kWh of usage from June through September, building on prior decreases of $33 in February and $11 in March.
2. Storm Cost Recovery True-Up
The $6 decrease effective June through September reflects a fuel-rate true-up approved by the Florida commission, adjusting for a gap between $1 billion storm cost charges collected and $915 million of actual costs from the 2024 hurricane season.
3. Broader Savings Initiatives
Additional initiatives include $340 million in fuel-cost savings from natural gas plant efficiency improvements, translating to $10 in monthly bill savings, four new solar sites displacing $1 billion in fuel costs and $65 million in IRA tax credits passed to customers.
4. Commercial and Industrial Impact
Commercial and industrial customers will see bill reductions ranging from 3.3% to 7.4% compared to March–May levels, with specific impacts varying by usage and rate class.
