FX.co ★ Duke Energy Florida Plans To Reduce Rates In June

Duke Energy Corp. shared plans on Monday to decrease energy rates in June in preparation for the expected decrease in fuel prices.

Their proposed plan, which is highlighted in the fuel midcourse rate request submitted to the Florida Public Service Commission, would result in a $5.90 drop in cost for an average Florida residential customer using 1,000 kWh per month. This means a decrease of nearly 4 percent in their energy bills.

Commercial and industrial customers would also see benefits of this reduction. Their bills would see a decrease of 3.5 percent and 7.0 percent respectively.

Melissa Seixas, Duke Energy Florida State President, commented on the announcement, saying, "Anticipating a decline in fuel prices, we are provided with the opportunity to reduce rates for our customers for the second time this year. This comes at the perfect time as we approach the summer months, which lead to higher energy use."

At present, Duke Energy Corp's shares are being traded at $95.97, enjoying a minimal increase of 0.07 percent on the New York Stock Exchange.