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Tuesday, Sep 16, 2014
Business News

Regulators will reconvene to discuss TECO rate settlement


Published:

TALLAHASSEE — The state’s utility regulators on Monday agreed to meet again this week to consider Tampa Electric Co.’s offer to drop its requested 10 percent rate increase and agreed to spread smaller increases over the next four years.

The Public Service Commission will reconvene at 9:30 a.m. Wednesday in Tallahassee to take up the proposed settlement agreement.

The compromise includes an initial hike of 5.5 percent starting Nov. 1, which means a typical customer using 1,000 kilowatt hours a month would pay an extra $5.67, up from $102.58 to $108.25.

The original request, which would have generated an additional $134.8 million a year for TECO, would have meant an extra $10.41 on the same bill.

Groups representing industrial, retail, military and hospital interests had opposed the original increase and agreed to the settlement.

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