Local businesses urge Hillsborough to resist TECO rate hike
Add Axios as your preferred source to
see more of our stories on Google.
Illustration: Aïda Amer/Axios
Dozens of local business owners sent a letter urging the Hillsborough Commission to adopt a resolution aimed at opposing Tampa Electric's planned rate hike, phasing out fossil fuels and lowering electricity costs.
Why it matters: TECO wants to shift the burden of its proposed rate increase from large businesses to residential customers and small businesses. The county commission represents around 84% of the utility's residential base.
- If state regulators greenlight Tampa Electric's 2025 rate structure, a typical household could see an upcharge of at least $200 annually, the Tampa Bay Times' Emily L. Mahoney writes.
Zoom in: Brooke Ward of Food & Water Watch, an organizer of the letter, tells Axios that while she understands that local governments are not setting the rates, they can pass policies to help alleviate the burden.
- The commission could fit more county buildings with renewable infrastructure, like solar panels, and expand its energy efficiency programs to all residents, regardless of ownership status.
- These policies, Ward says, would reduce energy use and lower electricity bills.
The big picture: A string of local businesses, bars and chain restaurants have closed or filed for bankruptcy over the last six months, some of which cited post-pandemic recovery issues and inflation.
- Tampa Electric's proposal would raise electricity base rates for small businesses by 69%, per a press release from the Hillsborough Affordable Energy Coalition, which organized the letter.
What they're saying: "Local businesses in Hillsborough County are suffering as large corporations like Tampa Electric prioritize profit over the financial well-being of their customers," the letter reads.
- "Hillsborough County residents and businesses deserve better," the letter adds. "Prosperity is only possible if we ensure fair and reasonable utility rates."
The other side: Per the Times, Tampa Electric officials have argued that shifting the rate hike burden away from large businesses could drive economic development.
What's next: The Hillsborough Affordable Energy Coalition will hold a community workshop on affordable energy solutions at Jimmy B. Keel Library in North Tampa on Tuesday, Sept. 10.