A rate increase has been approved for TECO (Tampa Electric Company) starting next year. The jump will effect both residential and commercial customers. The electric company is citing an increase in costs on their end as the reason for the jump.
Just two weeks before the holidays the increase can be seen as more bad news for those struggling to make ends meet. Residential TECO customers can expect their bills to jump around 11% starting next year. Also, business customers are looking at a significant increase as well, between 8% - 12% depending on their usage.
The company said that even with the change their prices still remain below the national average, and among some of the lowest in Florida. The increase in January is just one of two scheduled price hikes. The second price increase is said to be to recoup uncollected fuel costs for 2022.
TECO is putting together efforts to help customers deal with the higher bills they will be facing. They have pledged $2 million to help customers that qualify with past bill assistance, they have also put together a team for customer assistance during this time. Customers can call 211 to be connected with someone to see if they qualify for the assistance. READ MORE
