TALLAHASSEE, Florida — A settlement agreement between Duke Energy Florida and the Office of Public Counsel filed Monday with state regulators cuts by more than half the utility’s earlier three-year, $820-million rate hike request.
Duke and the OPC, which represents customers in rate cases, had notified state regulators July 8 that a deal was reached but had not provided details. The agreement announced Monday by Duke Energy reduces the rate increase requests to $203 million in 2025 and $59 million in 2026.
Duke would collect a total of $727 million additional from customers over three years under the agreement, compared with the $2.1 billion as previously requested from the Public Service Commission.
In addition to the Office of Public Counsel, the agreement includes a handful of business groups or individual companies that challenged the hike: the Florida Retail Federation, the Florida Industrial Power Users Group, Nucor Steel Florida and PCS Phosphate-White Springs.
