TECO Rate Increase Coming?

Tampa Electric Company's customers may soon find themselves paying more to keep their lights on.

The electric company, which serves both business and residential customers throughout the Bloomingdale-Riverview area and much of Hillsborough County and the City of Tampa, has officially filed a rate increase request with the Florida Public Service Commission, according to The Tampa Tribune.

Company officials are asking for at least a 6 percent rate hike by the start of 2014. Officials from the company had said in February they wanted to see rates increase by 10 percent, which amounts to nearly $10.50 more a month for many residential customers, The Tribune reported.

While the request has been filed, it’s by no means etched in stone. The move is being contested by consumer groups and the state’s Office of Public Counsel.

TECO says it needs the hike to offset operating costs and reduced power consumption on the part of customers.

Want to voice an opinion about the rate increase request? Visit the Florida Public Service Commission online.

Are you willing to pay more to keep the lights on? Share your thoughts in the comments section.