Daytona Beach, FL – Expect your power bill to drop a little bit starting next year no matter if you use Florida Power & Light or Duke Energy.
The Florida Public Service Commission approved the lowering of customer rates for both utilities during its meeting on Wednesday.
Typical residential customers will save $2.50 a month on average when the new rates take effect in January, according to FPL President & Chief Executive Officer Eric Silagy.
“Our long-term strategy of advancing clean energy affordably and reliably with smart investments continues to pay off for our customers,” Silagy added in a press release sent by FPL. “Our customers are paying less for their electricity today than they did nearly a decade ago.”
FPL business customers should see a monthly price drop of 2% to 6% depending on rate class and service type.
Silagy says the rate drop is partly the result of lower fuel prices as well as FPL pushing for more efficient power generation technology, allowing them to not use as much fuel as in the past.
“By phasing out older power plants that run on oil and coal and investing in modern, high-efficiency centers that run on natural gas, solar and nuclear, we’re delivering power that is far cleaner and more reliable than the average utility,” Silagy noted.
FPL officials say their investments in clean generation have saved customers more than $8 billion since 2001 and helped achieve a carbon emissions rate that is 35% cleaner than the average for United States utility companies.
The typical residential monthly bill will continue to be about 30% lower than the national average, according to FPL.
Per FPL statistics, a typical residential monthly bill will be $94.30 in 2016, a $14.31 drop compared to 2006.
Duke Energy spokesperson Suzanne Grant says there will be about $4 in savings for customers per month, largely due to the falling price of natural gas.
Copyright 2015 Southern Stone Communications.