Markets

Teco Energy Subsidiary Files for 10% Rate Increase; Shares Add 1%, Closer To Yr Highs

Tampa Electric Co., a unit of TECO Energy (TE,) filed its formal request with the Public Service Commission (PSC) to raise residential rates by about 10% in January 2014.

As announced in February, Tampa Electric is seeking about $135 million in higher rates, or an increase of $10.41 a month --or $0.35 cents a day --for the average residential customer who uses 1,000 kilowatt-hours (kwh) a month. Typical commercial and industrial customers would see increases of about 6%.

TE shares are up 1% at $18.23, taking it closer to a year high $18.64.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos