TECO to raise rates 30% by next year

07/18/08 Mitch E. Perry
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The increasing costs of fuel is about to hit Tampa area electricity customers in a major way.

Tampa Electric Co. (TECO) announced this afternoon that electric bills for its customers could jump more than 30 percent beginning next year. The utility said fuel costs alone could rise as much as 22 percent next year. And as previously announced, next month TECO will be seeking a 9 percent increase in its base electric rates.

But just last month, when TECO announced base rates would increase by 9 percent, there was no talk of a rate hike because of higher fuel costs.

If both proposals are approved, Tampa Electric customers will be paying 31.6 percent more for electricity by May.

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