By Mary de Wet


Duke Energy Corp. said Tuesday that Florida regulators approved its fuel and capacity rate request and the recovery of storm restoration costs.

The Florida Public Service Commission is allowing a rate hike of about 4% for residential customers, while commercial and industrial customers will see a 2% to 3.9% increase in their bills, the company said.

Florida was heavily damaged by hurricanes Ian and Nicole in 2022. The company incurred costs to secure the resources to restore power, Duke Energy said.

The new rate will take effect in April, Duke Energy said.


Write to Mary de Wet at mary.dewet@wsj.com


(END) Dow Jones Newswires

03-07-23 1348ET