Duke Energy believes in clean and sustainable energy that is affordable and reliable, today and for years to come. There are multiple factors that can incrementally increase the cost of production and consequently the price you pay for Duke Energy, such as fuel costs, environmental regulations, improvements in infrastructure, and even the change in energy demand.
Here at Duke Energy, we acknowledge our commitment and responsibility towards 1.7 million families and businesses connected with us. Therefore, we focus on providing clean, reliable energy and air, along with the best possible prices for our customers.
By balancing our responsibilities and expectations of our stakeholders, we are able to meet our vision of clean and affordable energy and plan for a secure future too.
Florida Electric Rates Set by The State
Duke Energy is a regulated public utility, which means that we don’t control the prices our customers pay for their energy requirements. Rather, our prices are reviewed and approved by the Florida Public Service Commission (PSC).
How Are Florida Electricity Rates Set
When revising prices, Duke Energy has to undergo a detailed public process. Since Duke Energy is a regulated utility, we are allowed to recover necessary costs to ensure that reliable power is available and a reasonable rate of return can be earned. The return is funneled back towards improving the infrastructure and compensating the bondholders and shareholders of the company for their investments with us.
Investing For Today and Tomorrow
More than 1.7 million customers rely on Duke Energy to provide clean, reliable, and affordable energy. This is achieved by investing millions of dollars and countless hours towards the planning, building, and operating of our complex system. It is through your rates that we are able to fund essential expenses and repay our bondholders and shareholders who help us actualize the large investments.
We work efficiently and prudently so that not a single dollar invested with us goes to waste. Our mission is to balance affordability in the present so that investment is possible in the future. This will help us fulfill our commitment towards providing clean, reliable, and affordable power, not only today but for years to come.
How Energy Rates can be Kept Affordable
Controlling Fuel Costs
Fuel costs comprise a significant portion of your bill and Duke Energy extracts no profit from this portion since it is controlled directly by the price of fuel in the marketplace. Even though we are unable to control the global factors that drive these costs, we can and do ensure that in operating our power plants and delivery systems, we use the minimum amount of fuel possible, without compromising on our service.
Streamlining the Systems
Processes and staffing under Duke Energy are carefully controlled and monitored. This is done with the single aim of providing leading services in the industry and reliability in those services. Keeping in mind the 1.7 million families and businesses connected with us, this is done as cost-efficiently as possible.