Residents in the Tampa Bay area could see lower electric bills next year.
Progress Energy Florida and Tampa Electric, the two largest utilities in the Bay area, both said Tuesday they expect to pay less next year for natural gas, coal and other fuels they use to produce electricity and hope to pass the savings on to customers.
The utilities submitted proposals for recouping fuel costs in 2008 to state regulators Tuesday.
If approved, residential customers of Tampa Electric would see bills drop 16 cents to $114.38 a month per 1,000 kilowatt-hours of electricity they consume.
Under Progress Energy's proposal, electric bills for residential customers would drop $2.27, or more than 2 percent, to $108.07 for every 1,000 kilowatt-hours of consumption. The reduction is based on a $151 million decrease in fuel and other operating costs, the utility said.
The state Public Service Commission must approve the proposals. If it does, the new rates would become effective Jan. 1.
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