Regulators approve Duke Energy Florida's request to lower rates in 2025

Core Points - Duke Energy Florida will reduce residential customer bills by $9.77 starting January 2025 due to an annual adjustment for fuel costs and other clause adjustments [1][2] - Commercial and industrial customers will experience bill decreases ranging from 5.1% to 11.1%, depending on various factors [2] - The company is committed to enhancing the electric grid's security, reliability, and resiliency while prioritizing affordability for customers [3] Company Overview - Duke Energy Florida, a subsidiary of Duke Energy, has an energy capacity of 12,300 megawatts and serves 2 million customers across a 13,000-square-mile area in Florida [5] - Duke Energy, a Fortune 150 company, serves 8.4 million customers across multiple states and owns a total energy capacity of 54,800 megawatts [6] Future Considerations - The company plans to file for storm cost recovery related to hurricanes Debby, Helene, and Milton in December 2024, which may affect rates as early as March 2025 [4] - Duke Energy is focused on a clean energy transition, aiming for net-zero methane emissions by 2030 and net-zero carbon emissions by 2050, while investing in electric grid upgrades and cleaner energy sources [7]