The Central Plaza —
Statistics from the federal government and the Florida Public Service Commission (PSC) demonstrate that the state’s power tariffs are still competitive.
Among Florida’s energy suppliers, Florida Power & Light Co. (FPL) has the most competitive rates, serving more than 12 million customers across the state. Monthly rates for 1,000 kilowatt hours of consumption from FPL average $121.19.
Second, for 1,000 kWh, you’ll have to pay $135.39 per month to FPL, which once was Gulf Power.
This image was shared on Wikimedia Commons by Roger W and is licensed under CC BY-SA 2.0.
Approximately in the center of the pack is Tampa Electric. It charges $136.44 per 1,000 kWh per month to its residential clients in Hillsborough, Polk, Pinellas, and Pasco counties.
For residential customers utilizing 1,000 kWh per month, Duke Energy Florida charges an average of $157.47. The company serves over 2 million consumers throughout the state. The most costly supplier is the Florida Public Utilities Company, with 1,000 kWh costing an average of $165.98.
Duke Energy Florida and the Tampa Electric Company have petitioned the PSC to increase their base rates starting January 1, 2025, thus some customers might see an increase. During a final hearing in August, the PSC will render a decision.
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In April 2024, Florida’s residential rates fell from 15.75 cents per kWh to 14.65 cents per kWh, as reported by the U.S. Energy Information Administration.
When compared to neighboring states, Florida’s rates are still competitive. Georgia’s residential customers now pay 14.10 cents per kWh, up from 13.30 cents in April 2023. In April 2023, the rate for residential consumers in Alabama was 14.49 cents per kWh, and in April 2024, it rose to 15.85 cents per kWh.
From April 2023 to April 2024, the price for residential customers in Mississippi went up from 14.08 cents per kWh to 14.64 cents per kWh.
The Northeast and Pacific regions have some of the nation’s most expensive power rates in April 2024. The cost per kilowatt-hour (kWh) in Connecticut is 29.58 cents, whereas in Massachusetts it is 29.50 cents. At 34.26 cents per kWh, California is second to last, with Hawaii charging 45.19 cents per kWh.