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TECO Wants 10% Rate Increase For Residential Customers

The increase would be 10 percent, officials say.

Citing "increased costs" and "sluggish growth," officials at Tampa Electric Co. informed the Florida Public Service commission their plans to file a request to raise residential rates by about 10 percent.

St. Petersburg residents would see an average monthly increase of about $11 on their bills.

The rate increase will be filed by Tampa Electric in April, and the PSC will hold hearings and vote by year's end. If approved, the increase would occur in January 2014, according to a TECO release. TECO is seeking about $135 million - about $11 per month or .35 cents per day - for the average residential customer, the release said.

Even with the increase, officials said in the release, customers would be paying less than they were six years ago.

“There is never a good time to raise rates, and we empathize with our customers who are also feeling the effects of a difficult economy. The pace of the economic recovery has not been what anyone predicted,” said Gordon Gillette, president of Tampa Electric, in the release. “We have worked diligently to keep costs low, but costs continue to outpace growth."

Also:

You can use this online tool to check for current power outages in St. Petersburg.

Dharma February 05, 2013 at 02:47 PM
Citing "increased costs" and "sluggish growth," officials at Tampa Electric Co. informed the Florida Public Service to raise residential rates by about 10 percent: i mean if u cant make it grow that isnt for the consumer you now have to pay you off. these corps remind me of the mafia..(not to offend anyone out there) but its like u have a restaurant and u have to pay them off to have it. so folks stand up and stay no.. change your service, they want to see what not enough recognition is... show them. switch now. Please consumer stand for yourselves..
Stephanie Knepper February 06, 2013 at 12:25 AM
After Tampa Electric releases yearly profit reports AND executive salary/bonuses, then a proper assessment can be made, regarding a ten percent rate increase.

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