Lakewood Ranch residents served by Duke Energy Florida could see slightly lower electricity bills starting in January 2027.

The utility filed a request Thursday, Sept. 3, with the Florida Public Service Commission (FPSC) asking to reduce rates across residential, commercial and industrial accounts, according to a company press release. A typical household using 1,000 kilowatt-hours (kWh) per month would see a $0.71 decrease compared to December 2026. Commercial and industrial customers would see reductions between 0.8% and 3.6%, though the exact savings depend on usage.

The FPSC must still approve the filing.

Duke Energy Florida serves 2 million customers across a 13,000-square-mile territory statewide, including the Sarasota-Manatee area. WTSP reported the average Florida household uses about 1,200 kWh per month, which means actual savings could be slightly higher, though Duke Energy has not published a figure for that usage level.

What's driving the decrease

The rate cut traces to a tax strategy Duke Energy Florida announced in July. The company is accelerating the return of federal investment tax credits tied to its Powerline Battery Energy Storage System over one year instead of the standard 15-year schedule. That move is expected to deliver $50 million in customer savings in 2027 and sidestep a 2% base rate increase the FPSC approved as part of a multiyear rate agreement in 2024.

Fuel costs are also falling, the company said, though grid-strengthening investments will push some components slightly higher.

"Right now, we know they're carefully watching every dollar … We'll remain focused on making smart, disciplined investments that allow us to keep our costs in check," state president Melissa Seixas said in the company's announcement.

Recent rate relief

The January filing would extend a streak of decreases for Duke Energy Florida customers. The company lowered residential bills three times in 2026, cutting costs by about $50 per 1,000 kWh compared to January 2026. In 2025, the utility passed roughly $65 million in solar production tax credits to customers, reducing residential rates by at least $2.50 per 1,000 kWh.

Over the next decade, Duke Energy Florida plans to build 1.4 gigawatts of battery storage, which the company said would generate more than $500 million in investment tax credits passed directly to customers.

The FPSC has not announced a hearing date or timeline for acting on the filing.