TALLAHASSEE, Fla. — The Florida Public Service Commission on Thursday approved an agreement between Duke Energy Florida, LLC and other parties that will raise customer rates through 2024.

As part of the deal, residential customers will see a bill increase of about 3% to 4% in 2022.

“We determined the agreement was a fair resolution in the public interest, and I believe it resulted in lower rates than would have been possible without a settlement,” PSC Chairman Gary Clark said.

“Customers now know what to expect on their bills through 2024, and Duke can focus on providing safe and reliable energy to its customers.”

The agreement, in part, includes base-rate increases of $67.25 million in 2022, $48.93 million in 2023, and $79.2 million in 2024, for a total increase of $195.4 million.  It also includes caveats that could change the increases, such as a federal and/or state income-tax change. 

Prior to Thursday’s decision, the PSC held a hearing, and customers had an opportunity to address the commission. 

Duke Energy Florida serves more than 1.8 million retail customers in Florida.