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TECO: Customers to see lower bills for 2013 | Business

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TECO: Customers to see lower bills for 2013
Business, Savings
TECO: Customers to see lower bills for 2013

Tampa, FL-- According to Tampa Electric Company (TECO), customers will see lower bills in January because of lower costs for natural gas – marking the fifth consecutive reduction in fuel costs in the past four years.

The company said Monday the Florida Public Service Commission (PSC) approved the company’s request as filed, so in January, a residential customer’s monthly bill will drop by $4.32, to $102.58 for 1,000 kilowatt-hours (kWh). This totals a four percent drop from the current $106.90 a month. 

Plus, residential cutomers won't be the only ones to receive this benefit. TECO reps said commercial customers can look forward to a five percent drop in their bills as well.

In total, this reduction will bring Tampa Electric residential customers’ bills to about 14 percent below the national average – which is $119 per month, according to May 2012 data from the Energy Information Administration.

“Tampa Electric continues to have one of the lowest rates in Florida,” said Gordon Gillette, president of Tampa Electric. “We are pleased to provide low, stable bills – consistently below the national average – while providing outstanding value to our customers.”

Due to lower actual and projected fuel costs, the company estimates that by the end of 2012 it will spend $69 million less on fuel than originally projected. The decrease in the fuel portion of the bill is based on lower costs for natural gas during the last six months of 2011 and the first six months of 2012, projections for the remainder of 2012 and expected fuel prices in 2013.

Information courtesy of TECO

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