Tampa Electric seeks 22 per cent rate hike
TAMPA BAY, FLORIDA - Tampa Electric Co. formally asked state regulators today for permission to increase electric bills 22 percent beginning in January to cover the skyrocketing cost of fuel.
The utility serves 667,000 customers in Hillsborough, Polk, Pasco and Pinellas counties.
Tampa Electric announced in July it was planning to seek a 22 percent increase in consumer fuel costs.
Under the utility's proposal, residential customers using 1,000 kilowatt hours a month would be paying about $140 a month starting in January, up from $114 now.
Tampa Electric underestimated its fuel costs for 2008 by $209 million, or 20 percent. The utility is asking the Florida Public Service Commission for permission to recover those costs in 2009, in addition to the $1.4 billion the utility expects to spend on fuel in 2009.
"Just as fuel is used to power cars, fuel is also used to power electric generators," said Tampa Electric President Chuck Black. "This unprecedented run-up in fuel prices has been frustrating for our entire team and truly challenging for our customers on all energy fronts."
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France and Germany arm wrestle over EU electricity reform
PARIS - Despite record temperatures this October, Europe is slowly shifting towards winter - its second since the Ukraine war started and prompted Russia to cut gas supplies to the continent.
After prices surged last winter, when gas and electricity bills “nearly doubled in all EU capitals”, the EU decided to take action.
In March, the European Commission proposed a reform “to boost renewables, better protect consumers and enhance industrial competitiveness”.
However, France and Germany are struggling to find a compromise and the clock is ticking as European energy ministers prepare to meet on 17 October in Luxembourg.
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