Impacts to your Energy Bill in 2023
At Tampa Electric, our focus is to bring you as much value as possible today and over the long-term. That's why we work year-round to keep your power on, while working on important projects that will continue to bring you and your loved ones clean, reliable and affordable energy, well into the future.
We know the timing of higher electric bills, in addition to higher costs for just about everything, can be a real hardship for our customers. Here's what we're doing to help:
- We committed $2 million to help qualified customers pay past-due bills.
- We offer a dedicated Customer Assistance team, who are committed to connecting eligible customers with financial assistance.
- We streamlined the application for certain financial assistance programs and reduced paperwork.
- We are working with thousands of customers to provide flexible payment arrangements and waive certain fees.
- While we cannot control fuel costs and make no profit from them, because of our investment in clean, renewable solar power we reduced customers' fuel costs by about $80 million in 2022. Learn more here.
We also suggest these options to help lower your usage and therefore your bill:
- Energy Saving Programs: We offer more energy saving programs than any other utility in Florida to help you save energy and save money. Visit Save Energy.
- Weather Tips: There are simple actions you can take to help lower your electric bill during the hot summer months and when we face cooler weather.
- Scam Awareness: If you're behind paying your bill, you're more likely to fall victim to a scam. We will NEVER call and demand payment. Learn more about how to avoid losing money to these bad actors: Scam Alert
Understanding your Bill: Learn about the charges on your bill and what they mean. Understanding your bill can help you think about ways to lower your energy costs. Understanding Your Bill
Understanding your Rates: Learn about the factors, like fuel costs, that affect your bill and how they are calculated. About Your Rates
Understand How Higher Fuel Prices Affect Energy Bills: We have four ways of generating power – natural gas, purchased power, solar and coal. Natural gas is the bulk of that at 78 percent of our fuel mix. In 2022, the price of natural gas was three times higher than it was in 2020, and as the price of natural gas climbed, our uncollected fuel costs increased. Another increase is expected in April 2023 to recoup the remaining uncollected costs. We phased in the increase to ease the transition and reduce the impact on customer budgets.
It's important to note that Tampa Electric does not profit from natural gas price increases. The amounts are passed through to customers at our actual cost and are regularly reviewed by the Florida Public Service Commission.
Today, we're Florida's top producer of solar energy per customer, and while fuel costs still impacted us greatly, we reduced fuel costs for customers by about $80 million in 2022. We continue to invest in solar projects, contributing to a cleaner energy future and reducing customers' fuel charges in the process. Learn more at Solar Savings For You. We also continue to drive efficiency at our power plants, which also contributes to less fuel use over time. Our recently completed Big Bend Modernization project will save customers more than $700 million over its life.