Planning for 2025 and Beyond
In today’s hyper-connected world, dependable energy is not just a convenience; it’s a lifeline. From powering hospitals and other essential services to fueling homes and businesses, a continuous source of energy is more important than ever. As the leading energy provider in West Central Florida, we are dedicated to delivering dependable, affordable power and a seamless energy experience for every customer, today and in the future. To accomplish this, we must take proactive measures to:
- Meet growing energy demands in our service area due to a rising population and the increasing electrification of homes, businesses and transportation.
- Better prepare for evolving risks, like extreme weather and cyberattacks, by improving the safety and security of critical company facilities.
- Remain focused on long-term affordability by maintaining close control of costs while making sound investments to deliver the service and reliability our customers deserve.
We’re investing in grid modernization, adopting smart technologies and streamlining our operations for efficiency. These efforts can also translate into lower electricity bills for customers over time.
In February, Tampa Electric announced its intention to file a request with the Florida Public Service Commission (PSC) to approve a general increase to the base rate component of customer bills in 2025; this request was officially filed on April 2, 2024. This is an early step in a lengthy regulatory process. A rate adjustment is necessary to continue delivering the safe, dependable power our community has depended on for 125 years.
If the PSC approves our request as filed, beginning in January 2025, residential customer’s total bill would be 3 percent higher than today, or an increase of about $5, to $148.15 for 1,000 kilowatt-hours (kWh) of use. Residential rates would remain one of the lowest in Florida, below the national average and lower than 2023. Typical commercial and industrial customers would see bills decrease or remain approximately the same, depending on usage, when compared to today’s rates.
It's important to note that the PSC has the final say on the requested increase, which will be carefully considered before being finalized by the end of the year. For now, all proposed rates are estimates. Customers can share their opinions at the PSC’s hearings on the rate case in June (see FAQs tab for more details).
Learn more about the work we’re doing to deliver more value to you.
Proposed 2025 Rates
Our new rates, if approved by the Public Service Commission (PSC) will allow us to enhance reliability and improve resiliency against storms and cyberattacks, provide more convenience to customers and increase energy generation with the least amount of fuel possible, which helps us keep customer bills as low as possible over time. Our investments include:
Enhancing reliability, resiliency and security
Tampa Electric will continue delivering 99.98 percent service reliability for our customers by investing in system maintenance and improvements that strengthen our resiliency to extreme weather events and other service risks.
We’re investing in technology and enhancements to our telecommunication systems that enable the automatic and remote restoration of service. Where more in-depth repairs are needed, these technologies allow us to diagnose and repair problems more quickly, reducing the time and cost to restore service.
Learn more about the work we’re doing to deliver 99.98 percent reliability to you.
To address the growing risks to our service, such as extreme weather and cybersecurity threats, we’re upgrading our energy management systems and moving critical facilities further inland, away from potential storm surge and flooding. These proactive measures allow us to meet increasing security expectations and requirements, as well as mitigate potential system damage.
We’ll continue to expand and leverage smart technology across more than 200,000 street and area lights in West Central Florida. We’re improving and exploring technology that helps us to ensure the reliability of our lighting to help keep our roadways safe and reduce crime. This technology includes smart city applications, which allow faster repairs and reduce maintenance costs by automatically notifying us when a light goes out. Other technologies include smart city applications and solar-powered streetlights that remain operational during outages and after extreme weather conditions, delivering lighting our community can count on.
Reducing fuel and operating costs to keep customer bills as low as possible
Tampa Electric is committed to offering energy that is both reliable and affordable. To achieve this commitment, we're focusing on projects and investments that reduce our reliance on fossil fuels, improve efficiency and lower costs and emissions.
We’re investing in upgrades to our equipment and introducing technological advancements at our existing power plants to optimize their efficiency, reducing fuel costs and lowering emissions. A prime example is turbine modifications under way at our Bayside Power Station. The project will lower operating costs and emissions, as well as reduce start-up time. This allows for faster response when energy demand is high or when we need to supplement intermittent energy sources, like solar, during cloud cover or darkness.
As we continue to shift power generation to solar, our investments will help protect customers from fuel price volatility. Since 2017, our solar projects have saved customers over $200 million in fuel costs. Today, Tampa Electric has the highest percentage of solar generation of any utility in the state. We generate energy from 1,252 MW of solar capacity, with plans to add another 490 MW by the end of 2026. At that time, we’ll have enough solar energy to power more than 260,000 homes.
Learn more about the work we’re doing to keep bills as low as possible.
We’re working to lower customers’ costs by maximizing our use of lower-cost energy. We’re adding more than 115 MW of energy storage capacity – enough to power about 18,000 homes – over the next few years. The storage allows us to extend the use of lower-cost electricity during cold weather demand peaks, reducing our fuel costs during these periods. This can also help to delay the need to invest in new power plants.
Helping customers save energy, money and time
We’re creating a more personalized energy experience with customized energy-use insights and settings to give customers more control over how they do business with us.
To help our customers make more informed decisions and save money, we’re investing in technologies that enable us to increase the information available to customers about their energy use and provide actionable energy-saving recommendations.
Learn more about ways you can save energy, money and time.
Our planned outage map enhancements will make it more informative, easier to use and include customers’ personal outage history. We are also expanding customers’ choices of how and when they receive communications from us, with more customizable account and billing notifications. These enhancements will help customers stay better informed and save time.
Frequently Asked Questions
We know you may have questions about our rate request. If you don't find an answer here, please contact us.
Proposed 2025 Rates
A. On April 2, 2024, Tampa Electric filed a request with the Florida Public Service Commission (PSC) to approve a general increase to the base rate component of customer bills. This is an early step in a lengthy regulatory process. The PSC is expected to hold hearings and vote on the issue by the end of the year. If approved, the new rates would take effect in January 2025.
A. Tampa Electric is seeking an initial increase of $297 million in 2025, with subsequent, smaller adjustments as we add solar plants and invest in efficiency-enhancing technology ($100 million in 2026 and $72 million in 2027). Long-term, less fuel will be consumed due to increased efficiency and shifting more power generation to solar, reducing fuel costs on customer bills.If approved as filed, the new residential rates would remain one of the lowest in Florida, below the national average and lower than 2023 bills.
It's important to note that the Public Service Commission (PSC) has the final say on the requested increase, which will be carefully considered before being finalized by the end of the year. For now, all proposed rates are estimates.
A. If the Florida Public Service Commission (PSC) approves our request as filed, beginning in January 2025, residential customer’s total bill would be 3 percent higher than today, or an increase of about $5, to $148.15 for 1,000 kilowatt-hours (kWh) of use. Residential rates would remain one of the lowest in Florida, below the national average and lower than 2023. Typical commercial and industrial customers would see bills decrease or remain approximately the same, depending on usage, when compared to January 2024 rates.
It's important to note that the PSC has the final say on the requested increase, which will be carefully considered before being finalized by the end of the year. For now, all proposed bill totals are estimates.
A. Our new rates, if approved by the Public Service Commission (PSC), will allow us to enhance reliability, resiliency and security by strengthening our system, upgrading critical facilities, improving power outage response and advancing streetlight technology. With our new rates, we can continue to improve power plant efficiency and generate more solar energy - actions that reduce fuel and operating costs to help us keep customer bills as low as possible in the long term. We would also be able to help customers save energy, money and time by offering more personalized energy-use insights, customizable account settings and enhanced self-service solutions.
A. Yes, In January, we reduced residential rates by about 11 percent because of a decline in fuel prices and other factors, resulting in our rates remaining one of the lowest in Florida, below the national average and lower than 2023. Due to continued low natural gas prices, we’ve asked the Public Service Commission (PSC) for a further reduction. Learn more about our request here.
A. While base rates are adjusted periodically to reflect current operating costs, fuel costs are adjusted annually and at other times if costs change significantly. Expected natural gas prices have substantially decreased since Tampa Electric submitted its projected 2024 costs in the fall of 2023 and Tampa Electric is requesting to pass the $137 million fuel cost reduction to customers starting in June 2024. Learn more about our request here.
To keep delivering the service and value our customers expect and deserve, Tampa Electric must continuously plan for the long term and make investments that create a better energy future. Our proposed new base rates, which would start in January 2025, are necessary to support our region’s continued growth, protect against risks like severe weather and cyber threats and to increase convenience and cost-saving measures that extend to our customers. If approved as filed, the new residential rates would remain one of the lowest in Florida, below the national average and lower than 2023 bills.
About My Bill
A. Yes, we want to help our customers who are facing hardships, which is why we’ve developed programs and partnerships to offer utility bill payment support for those in need. Tampa Electric offers flexible payment extensions to qualifying customers, allowing them more time to pay their bills. To request a payment arrangement, log in to TECOaccount.com and click on Payment Arrangement to complete our request form. If additional assistance is needed, you can call 888-223-0800 (Residential) or 866-832-6249 (Business) on weekdays from 7:30 a.m. to 6 p.m. Tampa Electric also offers more than 30 energy-efficiency programs and money-back rebates to help you save energy and money. For a comprehensive list of available programs, please visit residential Save Energy or business Save Energy.
Learn more about programs and services that can help.
A. We are committed to helping customers manage their bills. Whenever possible, we offer flexible payment arrangements and partner with community agencies to connect qualified customers to assistance with expenses and utility bills. If you need help paying your electric bill, call us at 888-223-0800 (Residential) or 866-832-6249 (Business). For additional resources on financial assistance, visit residential Payment Assistance and business Payment Assistance.
A. Tampa Electric offers more than 30 energy-saving programs to help customers save on their electric bills. These include time-of-day and interruptible-energy programs, online and in-person energy audits and rebates on select energy-efficient equipment. For a comprehensive list of available programs, visit residential Save Energy or business Save Energy.
Tampa Electric’s interactive bill, available at TECOaccount.com, is another great resource. Customers can access personalized insights, such as a monthly and yearly usage comparison, with actionable recommendations on how to save energy. For additional everyday energy-saving tips, visit residential SavingsTips and business SavingsTips.
A. Currently, Tampa Electric’s residential customers pay $143.48 for 1,000 kilowatt-hours (kWh) of electricity. This makes our rates one of the lowest in Florida and below the national average – a placement where our rates have consistently ranked over the years. If our increase is approved as filed, our bills would remain one of the lowest in the state, below the national average and less than 2023 bills.
Rate Setting Process
A. To ensure fair and reasonable rates for customers, investor-owned utilities, like Tampa Electric, are regulated by the Florida Public Service Commission (PSC). An electric utility company uses a rate case to formally request an adjustment to the base rate component of customer bills. Another major bill component, fuel costs, is addressed annually through a separate process and is not affected by these proceedings. The PSC holds public hearings on proposed rate changes, allowing customers to voice their concerns and objections to the proposed rates. Ultimately, the PSC has the final say on the amount Tampa Electric can charge customers, and that decision is based on its examination of the company’s carefully considered costs to provide reliable and safe electric service, along with an opportunity to earn a reasonable return on our capital investments. Additional information about how the PSC regulates utilities is available at FloridaPSC.com.
Learn more about how we’re planning for 2025 and beyond.
A. Customers may speak at the Florida Public Service Commission’s (PSC) hearings on Tampa Electric’s rate case, which are scheduled for the following days:
June 10, 6:00 p.m. – Virtual
June 11, 2:30 p.m. – Virtual
June 13, 10:00 a.m. – Hillsborough Community College - Brandon Campus (10451 Nancy Watkins Dr – BADM 116/117 – Tampa, FL 33619)
For more information, view our residential and small commercial notice or our commercial and industrial notice. Customers may also contact the PSC directly by calling 1-800-342-3552, by email at contact@psc.state.fl.us or online through the PSC Contact Form.
A. The Florida PSC’s customer service hearings are scheduled for the following dates this summer:
June 10, 6:00 p.m. – Virtual
June 11, 2:30 p.m. – Virtual
June 13, 10:00 a.m. – Hillsborough Community College - Brandon Campus (10451 Nancy Watkins Dr – BADM 116/117 – Tampa, FL 33619)
For more information, visit the Florida PSC’s website or view view our residential and small commercial notice or our commercial and industrial notice.
