Duke Energy (DUK.N) has filed a request with the Florida Public Service Commission (FPSC) to recover approximately $1.1 billion in costs stemming from its emergency response to hurricanes Debby, Helene, and Milton. These storms caused significant damage to the utility’s infrastructure, including miles of transmission lines and power poles, leaving tens of thousands of customers in North and South Carolina without power.
The company announced that residential customers consuming 1,000 kilowatt-hours (kWh) of electricity monthly will see a $21 increase in their bills starting in March 2025 compared to February 2025. The storm-related charges will remain on bills through February 2026.
Adverse weather conditions like hurricanes significantly raise operating and maintenance (O&M) expenses for utilities due to the need for repairs and restoration of damaged infrastructure. Duke Energy’s filing includes costs for deploying hundreds of crews across its service areas and securing additional assistance from across the U.S. and Canada.
Earlier this year, severe storms forced major U.S. utilities to halt or slow power plant operations, further complicating recovery efforts. In October, Florida Power & Light Company (FPL), a subsidiary of NextEra Energy (NEE.N), filed to recover $1.2 billion for hurricane restoration costs following Hurricane Milton.
Duke Energy’s proposed recovery plan underscores the escalating financial toll of extreme weather events on utilities and their customers.
Also read: South Korean Researchers Develop Wearable Robot for Paraplegics
