Tampa Electric outlines hurricane costs

TALLAHASSEE, Fla. - Tampa Electric Co. has outlined hundreds of millions of dollars in costs that it could seek to recover from customers because of power-restoration efforts after hurricanes Helene and Milton.

A new quarterly financial report filed at the U.S. Securities and Exchange Commission indicates Tampa Electric could seek to recover $45 million to $55 million related to Hurricane Helene and $320 million to $370 million related to Hurricane Milton.

The utility would need to seek approval from the Florida Public Service Commission and said in the filing that it will "determine the timing of the request for recovery of Hurricane Helene and Hurricane Milton costs at a future time."

The Public Service Commission in the past has allowed Tampa Electric and other utilities to recover such costs, and recovery has been contemplated in base-rate agreements.

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Florida Power & Light on Oct. 29 requested approval from the Public Service Commission to collect nearly $1.2 billion to cover costs of restoring power after Helene, Milton and Hurricane Debby and to replenish a storm reserve fund.

A Securities and Exchange Commission filing last week said Duke Energy Florida’s storm-restoration costs could total $1.1 billion to $1.3 billion. Duke has not filed for recovery at the Public Service Commission.

Helene made landfall Sept. 26 in Taylor County after causing damage in other coastal communities as it moved up the Gulf of Mexico. Milton made landfall Oct. 9 in Sarasota County and caused extensive damage in other areas of Florida.

The smaller Debby made landfall in early August in Taylor County before moving through parts of North Florida.

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