TECO customers will pay more in 2026 after rate hike approval

TAMPA, Fla. (WFLA)— Tampa Electric customers will pay more starting in January after the Florida Public Service Commission approved a rate hike on Tuesday.

The Food and Water Watch analysis said that the average TECO customer’s bills will be 82% higher or $939 more per year than they were in December 2020.

“Once again, DeSantis’ PSC is maintaining their track record of ensuring the wealth of corporations over the health of Floridians. By raising energy prices yet again, the Florida families already suffering from the high cost of living will only be worse off. It doesn’t have to be this way,” Food and Water Watch organizer Isabella Moeller said.

Starting in January, TECO customers using 1000 kWh/month will pay $5.51 more each month.

TECO previously increased rates in 2025, which include:

• January 2025: $9 to $13 more per month indefinitely, due to approved base rate increase.
• March 2025: $20 to $25 more per month for 18 months, due to the approved storm recovery crisis.
• June 2025: 10% increase in customer fuel charges.

“This era of corporate greed over community need must stop. The Florida state legislature must prioritize passing affordable energy legislation this session to ensure that families can afford the basic cost of living. Without commonsense legislation, corporations like TECO will continue to profit off of struggling families’ backs,” Moeller said.

TECO released the following statement regarding a protest over the rate hike:

Tampa Electric understands that some customers are facing hardships. It is important to note that a large portion of this year’s bills is due to collecting the costs of recovering from the unprecedented 2024 hurricane season, which was one of the most destructive in a century. 

To reduce the impact on customers’ bills, the costs were spread out over 18 months. The charge will end in September, after those costs are fully recovered. This means a 1,000-kilowatt-hour (kwh) residential bill will drop by about $20.  

To help those who need it most, Tampa Electric recently contributed an unprecedented $2 million to the Share program to assist customers who are struggling. This donation comes from shareholder funds and will provide direct relief to help qualified customers pay their utility bills. The Share program is administered by Metropolitan Ministries, the Salvation Army and the Catholic Charities Diocese of St. Petersburg. 

If you’re facing a financial hardship, please contact us directly and visit TampaElectric.com/PayAssist for more information. We work with customers by making payment arrangements and connecting them to financial support.  

TECO said it offers different programs to assist with bill payment that include:

• Budget billing helps manage energy costs, reduce seasonal bill spikes, and maintain a budget with predictable monthly payments.
• Due Date Plus helps residential customers on a fixed income or if their Social Security, retirement, disability, or other support system payment is received on a date that doesn’t coincide with their due date for their utilities.