Why your electric bill might go up - FOX 13 News

Why your electric bill might go up

Posted: Updated:
TAMPA (FOX 13) -

This is some not-so-welcome news for your wallet.

Tampa Electric Company says it wants to raise its rates by about 10 percent next year, starting in January 2014. The company has filed a request for approval.

If passed, residents would see an average hike of about 10 percent in their electric bills – totaling an estimated $135 million for the company.

"There is never a good time to raise rates, and we empathize with our customers who are also feeling the effects of a difficult economy. The pace of the economic recovery has not been what anyone predicted," said Gordon Gillette, president of Tampa Electric, in a statement. "We have worked diligently to keep costs low, but costs continue to outpace growth.

On Monday, TECO cited an increase in costs and the sluggish economy as a reason for raising rates. It did point out that it hasn't raised rates in nearly five years.

Powered by WorldNow

FOX 13 / WTVT-TV
3213 West Kennedy Blvd.
Tampa, Florida 33609
Main: (813) 876-1313
Newsroom: (813) 870-9630
Fax: (813) 871-3135

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices