The Florida Public Service Commission (PSC) today approved new fuel charges for Tampa Electric Company (TECO) that will reduce residential customer’s monthly bills by $16.17, or approximately 25 percent, for a customer using 1,000 kilowatt hours (kWh). The decrease will take effect May 7, 2009.
TECO requested a midcourse adjustment to its fuel charges due to lower natural gas prices. Typically, fuel rates are reviewed annually to reflect changing market fuel costs. However, volatile changes in fuel costs sometimes cause utilities to petition the PSC for an adjustment in their fuel charges before the annual review. Utilities are not allowed to make a profit on fuel purchases.
The utility serves about 600,000 residential customers. Its West Central Florida service area covers 2,000 square miles, including all of HillsboroughCounty and parts of Polk, Pasco, and Pinellas Counties.
The PSC is committed to making sure that Florida's consumers receive their electric, natural gas, telephone, water, and wastewater services in a safe, affordable, and reliable manner. The PSC exercises regulatory authority over utilities in the areas of rate base/economic regulation; competitive market oversight; and monitoring of safety, reliability, and service.
For additional information, visit http://www.floridapsc.com/.