Dear Valued Partner,

Happy New Year! I hope you had a wonderful holiday season and feel refreshed and ready for all 2026 has in store.

I’m writing to share an important update from Duke Energy Florida. While we previously announced the storm cost recovery charge would be removed in March, the charge will now be removed in February, lowering customers’ monthly bills by approximately $33 for every 1,000 kilowatt-hours (kWh) of electricity they use. 

As you may recall, the storm cost recovery charge was the result of approximately $1.1 billion in costs that we incurred to deploy more than 27,000 resources and ultimately get the lights back on for our customers as soon as possible after hurricanes Debby, Helene and Milton in 2024. It was implemented on customer bills in March 2025 and originally scheduled to be removed in March 2026 – but it’s being removed a month earlier now.

Duke Energy Florida understands that all customers have been affected by the rising costs of living, many may be facing financial challenges and some are even having to decide which bills they can afford to pay every month. It was important to us that they get this significant relief as soon as possible given that the full amount for all three storms was recovered ahead of schedule.   

What’s more: Our customers can expect another approximately $11 reduction per 1,000 kWh in March, reflecting a seasonal decrease that we institute annually to help our customers save money during times when energy use is typically higher (March-November).

All together, this means customers’ March bills will be approximately $44 lower (again, per 1,000 kWh) when compared to their January bills.

At Duke Energy Florida, our goal is to provide our customers with safe, reliable power at the lowest price possible – and this latest development is just one example of how we’re doing that. Recently, we’ve also:

• Made efficiency improvements at many of our natural gas plants (see here), saving $340 million in fuel costs – which translates to $10 savings on customers’ monthly bills
• Completed three new solar energy sites (see here and here), saving another $750 million from displaced fuel costs
• Passed on $65 million in Inflation Reduction Act tax credits, saving residential customers’ at least $2.50 per 1,000 kWh

We remain committed to supporting customers by offering several assistance programs and resources, including flexible payment plans and the Share the Light Fund. To learn more, they can call the Customer Care phone number listed on their bills or visit duke-energy.com/HereToHelp.

Thank you for your ongoing collaboration and the important work you do in our communities every day.

Please don’t hesitate to reach out to me if you have any questions.

Sincerely,

Jeff