Tampa Electric to lower rates this summer

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(The Center Square) – Tampa Electric customers will see their bills go down this summer as the company removes the storm surcharge.

The utility will remove the surcharge a month earlier than expected, lowering rates by 12% beginning in August. Residential customers using 1,000 kilowatt-hours of electricity per month will save about $20. The savings will appear on bills beginning in September.

The storm surcharge was added after the Florida Public Service Commission approved it in March 2025 to help Tampa Electric recover over $400 million in costs after the 2024 hurricane season.

Hurricane Helene made landfall as a Category 4 storm in September 2024, followed by Hurricane Milton, a Category 3 storm, in October.

"This relief reflects Tampa Electric's ongoing commitment to help our customers on their payments whenever we can," said Archie Collins, president and chief executive officer of Tampa Electric. “We understand everyone is feeling the pressure of higher prices, from the grocery store to the gas pump, and we heard you. It’s important to us that you receive this benefit as soon as possible.”

Helene was the deadliest storm to hit the U.S. since Hurricane Katrina and caused over $78 billion worth of damage. Hurricane Milton’s costs were estimated at $34.3 billion, according to the National Oceanic and Atmospheric Administration.

Helene was the strongest hurricane on record to hit the Big Bend and the third to hit that area in just one year, according to NOAA. A historic 30 inches of rainfall and record-breaking flooding made up the worst of Helene’s impacts. Days after Helene, Milton hit near Siesta Key with a storm surge of up to 10 feet and brought dozens of tornados.

Tampa Electric’s storm surcharge was spread over 18 months after the historic hurricane season. The company brought in 9,5000 workers from out of state to help restore power quickly to Florida residents. The fee was expected to stay on customers’ bills until September, but costs were recovered quicker than expected.

Tampa Electric serves about 870,000 customers in West Central Florida.