Florida – Local Utilities Finalize Plans To Use Tax Savings To Cover Storm Costs

Two Tampa Bay utilities have reached settlements with the state utility consumer advocate that, if approved, will make good on their promises to use 2017 federal tax savings to cover the cost of recovery from Hurricane Irma and other storms. The proposed settlements will apply Duke Energy Florida’s and Tampa Electric Co.’s savings from the 2017 Tax Cuts and Jobs Act to the utilities’ Hurricane Irma expenses, according to a filing made last week. In Duke’s case, that covers $484 million in hurricane costs and hurricane response fund replenishment. In Tampa Electric’s case, the figure is $91 million.

For The Full Story: Tampa Bay Times

Tampa bay times
by malena carollo
April 23, 2019