Why Florida Electricity Prices are Rising and How to Save on Utility Costs

L. Cane

Summer in Florida is the time of year when most people notice rising electricity bills. After all, Florida is hot and humid. Therefore, most people resort to adjusting the thermostat and cranking up the air conditioner to get some relief. And as they do, some notice alarming increases in their electric bill. This article will look at electricity rates in Florida, recent price hikes, and how to save money on your utility bill.

In Some Areas, Florida's Utility Costs Are Among the Highest in the United States: According to data by Mov.org Florida's electric bills outpace those of the nation. The average home in Florida pays an average monthly electricity bill of $459.40. That's higher than the national average of $398.24. The study by Mov.org also indicated that Florida's electric bills were the second highest in the United States.

2022 in Florida Has Been Hotter Than Normal So Far: Hot summers mean more air conditioning which means higher electric bills. Many cities in Florida are averaging higher temperatures than normal. Examples are Tampa, Orlando, Fort Myers, Daytona Beach, Miami, and Jacksonville. These higher temperatures are occuring when many Florida utility companies have raised their rates.

Some Florida Utilities Companies that Have Announced Rate Increases, as Follows:

  1. Florida Power & Light: In October of 2021, the Florida Public Service Commission approved a settlement that allowed Florida Power & Light to raise its rates in 2022 and in 2023. The change included a new pricing structure where customers pay a lower rate for energy up to 1,000-kilowatt hours, but a higher rate for usage above that. As a result, some homeowners have seen their rates increase unfavorably. FP&L indicated that the increases were necessary to fuel power generation plants. The company is the largest power utility in Florida. It covers the Atlantic coast and southeast and west Florida.
  2. Duke Energy Florida: In February of 2021, the Public Service Commission approved Duke Energy's request to raise rates due to increases in the price of natural gas. The rate hike went into effect in March and raised residential rates by about 16%. The company covers 36 counties in the state of Florida, namely north Tampa and parts of Orlando, Ocala, and Gainesville.
  3. Tampa Electric: In February of 2022, the Public Service Commission unanimously approved Tampa Electric's proposal to raise rates by about 12% as of March 2022 to cover the rising cost of fuel for its power plants. Tampa Electric services central Florida, including Hillsborough County and part of Polk, Pasco, and Pinellas Counties.

This is not an exhaustive list, but it is some of the larger companies that have raised their rates. Smaller companies like Orlando Utilities Commission and Lakeland Electric have also sought to rise rates, to name just a few.

How to Lower Utility Costs in Florida: Saving money on electricity comes down to attempting to use fewer services as painlessly as possible and run your home as efficiently as possible.

Harley Aldrich with Del-Air Heating and Air Conditioning told Fox 35 news that it is a good idea to set your air conditioning thermostat higher when you aren't home and lower it when you return. You can get a programmable thermostat to automate the process.

Whitt Inspections suggest slightly lowering the temperature on your water heater to 120 degrees and running your dishwasher at night during "off-peak" hours.

TrueMoneySaver.com suggests turning off lights, closing doors to rooms that aren't in use, unplugging electronics you're not using, running fans, staying out of the kitchen by using the grill, and doing full loads of laundry in cold water.

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