TAMPA, Fla. — Citing increasing fuel costs and the cost of restoring power after storms, rate increases could be impacting power companies in Florida.

Requests from Florida Power and Light, Duke Energy and Tampa Electric are all slated to for consideration before the Florida Public Service Commission March 7. From residential to commercial, increases could range from 10% to almost 40%, depending on the provider come spring of 2023.

What You Need To Know

  • Increases requested by various Florida utility companies could cause power bills to increase from 10% to almost 40% 

  • The utility companies cite increasing fuel costs and the cost of restoring power after storms 

  • The request to increase rates are slated for consideration before the Florida Public Service Commission on March 7.

Denny Haywood has only owned Hot Rocks Pizza with his two business partners for less than one year and increased power bills would be another big blow to opening a business in the midst of a pandemic and inflation rising.

“Had this vision of what we wanted to be. You get in there with a budget with a budget like anything, right then all of a sudden, COVID happens and the cost of goods go through the roof,” said Haywood.

Haywood, a firefighter who also has a background in finance, says he wants to work to keep the restaurant family-friendly and affordable. He’s grateful to own a business with a friend and a fellow firefighter.

“Goes back to affecting people, helping them,” said Haywood.

Adding a potentially higher power bill and keeping an eye on the bottom line, Haywood says he’ll be sure to keep a closer eye on all the numbers.

“You have that range where you need to be, for a restaurant to get to your numbers to survive, so when you’re a mom and pop place that has one location, I mean every dime counts,” said Haywood.

Haywood and his business partners appreciate every dime that comes into the restaurant and are enjoying being small business owners less than one year in. But the owners realize it is a business.

“We gotta stay afloat so sometimes we have to raise pries to be able to do that,” said Haywood “But in the same breath, we’re willing to be able to absorb those costs some because I don’t want it to hurt my consumers that much,”

What Haywood does plan to do is stay optimistic as he and many others wait on a decision from state regulators.

“We have a lot of projections of where we think we’ll end up being, which is a very successful restaurant.”