TAMPA, Fla - Citing increased costs on their end, TECO informed consumers, just two weeks before the holiday season, that an 11% average increase to energy bills is coming in 2023.

TECO made the announcement December 6, on the company website.

What You Need To Know

  • The company said consumers will see 11% higher energy bills

  • The change will take effect in January 2023

  • Commercial and industrial customers would see an increase between 8-12%

"The Public Service Commission today finalized its approval of TECO’s January bills, which includes costs for 2023 for fuel, capacity charges, new solar plants and the Big Bend modernization project. The typical residential customer’s monthly energy bill will increase by about 11 percent, or $14.09, to $146.72 for 1,000 kilowatt-hours (kWh) of use, from the $132.66 customers pay today. Commercial and industrial customers would see an increase between 8 percent and 12 percent, depending on usage."

The company said that despite the change, average energy prices in the Tampa Bay area are lower than the national average.

"Tampa Electric’s bills will remain well below the national average – which is $163.20 for 1,000 kwh – and among the lowest in Florida."

The January adjustment is just the first of two planned increases.

According to the release, the company expects another increase in 2023, to reflect uncollected fuel costs for 2022. The two-step increase is intended to ease the transition on customer budgets, according to TECO.

In the statement, TECO said "The price of natural gas has tripled since 2020 due to global and economic conditions." 

To help customers during this time, TECO: 

  • Reduced this year’s fuel costs by about $90 million because of our investment in clean, renewable solar power. 
  • Created a dedicated Customer Assistance team to connect eligible customers with financial assistance to ensure they get the help they need. 
  • Committed $2 million to help qualified customers pay past-due bills.
  • Streamlined the application for certain financial assistance programs and reduced paperwork. 
  • Worked with thousands of customers to provide payment arrangements and waive certain fees.  
  • For commercial customers, the company provides energy conservation programs and energy audits to help use energy more efficiently.

Tampa Electric provides more energy-saving programs than any other utility in the state to help customers manage energy costs. Customers can learn more and sign up at tampaelectric.com/save (residential) and tampaelectric.com/bizsave (business). A variety of appliance calculators also are available online to help customers pinpoint opportunities for savings.

More information on resources and programs can be found online at tampaelectric.com/updates.

TECO included these options for customers that need help paying the electric bill:  

  • Call TECO, they can help set up a payment plan and connect you to the Customer Assistance team for additional support, if eligible. 
  • Call 211, you can connect with other financial assistance programs available through their community partners, including the Share program.