Power you can rely on.
Duke Energy is committed to delivering clean, reliable, affordable power today and for years to come.
Many factors – including fuel costs, environmental regulations, infrastructure improvements and changing energy demand – affect the cost of producing electricity, and, in turn, the price you pay.
At Duke Energy, we continuously balance these factors to ensure reliable electricity, cleaner air and the best price possible for our customers. It’s all part of our commitment to the more than 1.7 million families and businesses that depend on us every day.
We also work hard to balance the needs and requirements of all our stakeholders. By keeping them in balance, we are able to meet our fundamental commitment to deliver clean, reliable, affordable power and plan for a secure energy future.
Electric rates are set by the state
Duke Energy is a regulated public utility. Therefore, unlike other businesses, we do not set the prices our customers pay. Instead, our rates must be reviewed and approved by the Florida Public Service Commission (PSC).
How rates are set
As a regulated utility, Duke Energy is allowed to recover the costs necessary to ensure reliable power and the opportunity to earn a reasonable rate of return. That return is used to fund new infrastructure improvements and to compensate our shareholders and bondholders for their investments in the company.
Duke Energy goes through a detailed public process when requesting a change in our prices. Here’s how the process works.
Duke Energy Rates & Tariffs
Documents containing Duke Energy's retail rate schedules, retail tariffs and wholesale transmission rates can be found under the rates and tariffs section on duke-energy.com. View the link below for direct access to the information.
Investing for today and tomorrow
Duke Energy is committed to delivering clean, reliable, affordable power to the more than 1.5 million customers who depend on us each day. To achieve that, we invest millions of dollars and countless hours each year in the planning, building and operating of our complex system.
Your rates are an important part of how we fund these essential expenses and repay the shareholders and bondholders who help make such large investments possible.
To make every dollar count, we work to be as efficient and prudent as possible, and to balance affordability in the present with investments for the future. All so that we can continue to deliver clean, reliable, affordable power today and for years to come.
How we're working to keep rates affordable
Controlling fuel costs: The largest single component of your bill is fuel costs. Duke Energy makes no profit on this portion of your bill since it is directly tied to the cost of fuel in today's marketplace. Although we can't control the global factors that affect these costs, we can and do control how efficiently we operate our power plants and delivery systems to use the least amount of fuel possible.
Streamlining our systems: We carefully monitor and control our processes and staffing so we can continue to provide industry-leading service and reliability as cost efficiently as possible.
Investing today for your future
To meet the challenges of volatile fuel prices and changing energy needs and demand, we must continually invest in our electricity system. The benefits are real – continued reliability, cleaner air, less dependence on foreign fuel, better long-term price stability – but so are the costs.
Duke Energy is constantly working to maintain and improve our 14 Florida power plants and our complex network of more than 46,000 miles of power lines. Our investments improve customer service and reliability, reduce the environmental impacts of providing electricity, and create better, more efficient generating sources.
Duke Energy is investing in a brighter energy future for our 1.7 million customers in Florida. Since 2008, we’ve invested more than $2 billion across our Florida fleet on facility upgrades. Over the next decade, we plan to spend approximately $3 billion more on new power plants and technology to help further comply with the increasingly stringent air, water and waste rules.
Our fleet modernization efforts also will allow us to reduce 50 percent of our coal-fired units in Florida by 2018. This work has resulted in significant emission reductions.
We must continually plan for investments in new infrastructure and technologies to make certain we continue to meet your electricity needs in the future.