Duke Energy Florida says costs from storms could top $1.1 billion

Duke Energy Florida has revealed that the costs of restoring power after three hurricanes this year could range from $1. 1 billion to $1. 3 billion. The utility is preparing to seek approval from the Florida Public Service Commission to pass these expenses onto consumers, with the potential for implementation as early as March. The most substantial costs, estimated between $700 million and $850 million, stem from Hurricane Milton, which significantly impacted Sarasota County and surrounding areas.

In addition to Duke Energy Florida, Florida Power & Light has also filed a request for nearly $1. 2 billion to recover its storm-related expenses. The financial implications of these storms highlight the ongoing challenges utilities face when restoring services post-disaster. Duke Energy's quarterly report indicates a total estimated cost of $2. 4 billion to $2.

9 billion for all three storms across its service areas. As utilities are typically allowed to recover storm-related costs from customers, these filings reflect a broader trend in the industry. The situation raises important questions about the affordability of utility services in the wake of increasing hurricane activity.