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Tampa Electric to lower rates in 2020

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Tampa Electric to lower rates in 2020

Tampa Electric Co. will lower customer bills in 2020 to reflect Florida's reduced corporate income tax rate, the Emera Inc. subsidiary announced Dec. 10. The new rates will take effect Jan. 1, 2020.

As approved by the Florida Public Service Commission, the new rates will see an average residential customer save 33 cents monthly due to lower corporate income taxes.

Including other changes approved by the commission, the average residential bill for 1,000 kWh of consumption will drop to $102.19. Typical residential customers will also see a one-time credit of about $9 in their January 2020 bills as a result of federal tax reform.

Large commercial and industrial customers will see a drop of about 2% while smaller commercial customers may expect a reduction of about 1% in their bills.