Electricity Prices Going Up in Florida
Most homeowners have felt the increased electricity prices on their monthly utility bills. Many utility companies in Florida, including Florida Power & Light, Duke Energy Florida, Tampa Electric Co., and Florida Public Utilities Co., have increased their electricity rates in an attempt to recover the costs of hurricanes and the inflated gas prices that we witnessed in 2022. The majority of public electricity in Florida is produced from gas. When gas prices go up as they did in 2022, it is inevitable that this will affect the price of electricity. Likewise, hurricanes Ian and Nicole took a toll on the electric grid, and utility companies are retro-charging their customers to recoup the expense linked to hurricanes. Most utility companies are spreading the costs across their customers in monthly installments and over several months, but homeowners and business owners are seeing significant increases in their electricity bills. Electricity prices are unlikely