Duke Energy Florida will issue a $90.5 million refund to its customers this summer due to over-collection from the 2024 hurricane season.
This refund affects more than 2 million customers across 35 counties in Florida. The funds will appear as a reduction in the fuel charge on energy bills from June through September.
The Florida Public Service Commission authorized this action after confirming that Duke Energy had collected excessive amounts for hurricane restoration costs. Duke Energy reported that it collected over $1 billion in storm-related costs, while actual expenses totaled approximately $915.3 million.
The refund translates to a reduction of 0.562 cents per kilowatt-hour in the fuel charge. Monthly fuel charges will decrease from 4.414 cents per kilowatt-hour to 3.852 cents per kilowatt-hour.
The storm charge was initially set to end in February 2026 but will now conclude a month early in January 2026. Duke Energy informed the Commission of this change recently.
Key details about the refund:
- The payout will continue through September.
- No sign-up is required; the refund will be automatically applied to customer accounts.
- The Commission directed that the over-collected funds be returned via this temporary reduction in fuel charges.
Duke Energy’s actions come after it was approved to charge residential customers $33 per 1,000 kilowatt-hours starting in March 2025, also due to hurricane restoration costs.
