ST. PETERSBURG, Fla. — Florida utility regulators agreed Tuesday to allow Tampa Electric to increase its base rates.

According to Spectrum Bay News 9 partner newspaper the Tampa Bay Times, the Florida Public Service Commission voted to allow TECO to hike its rates.

TECO officials said the increase is to meet growing demands and to better prepare for storms.

The PSC is set to meet on Dec. 19 to vote on specific rates for next year.

According to the Times, utility rate cases in Florida are often settled by the utility and regulators coming to an agreement before this point, which allows the companies to avoid the trial-like procedure in which sometimes-unflattering internal documents become public.

Opponents of a rate hike said the move is strictly a money grab.

Tampa Electric has nearly 850,000 customers.