Keeping Costs Low
As your trusted energy partner, we strive to be transparent on anticipated changes in pricing. The price of natural gas, which is used to generate electricity, was three times higher in 2022 than it was in 2020, leading to increased uncollected fuel costs. Because Tampa Electric and other utilities across Florida and the U.S. use natural gas as a fuel to help generate electricity, prices are being impacted nationwide.
Understanding the Impact of Fuel on Your Bill
The cost of fuel will be about one-third of a residential customer's bill and is passed through to customers with no mark up from the utility. Utilities adjust fuel and capacity costs annually, typically in January. However, when costs are expected to change more than 10 percent, utilities can request an additional adjustment. Tampa Electric maximizes the use of existing low-cost, well-performing plants, power purchased from other companies and generation from solar power plants to mitigate costs for customers. Long-term, Tampa Electric is reducing the impact of fuel costs on your energy bill by growing our renewable energy fuel sources even more. Thanks to our investments in solar energy, we are on track to save customers approximately $80 million in fuel costs in 2023, and by the end of 2025 our solar power plants will power 260,000 homes. You can learn more about our vision for a cleaner energy future at teconetzero.com.
Ways to Better Manage and Reduce Your Bill
We can help you manage your energy use and save money. Did you know Tampa Electric offers more energy-efficiency programs than any other electric company in the state? Check them out and get started saving energy at your home or business. You can also choose to sign up for Budget Billing, which helps even out your monthly bill by looking at your average 12-month energy usage.