St. Petersburg Considers Municipal Electric Utility Amid Duke Energy Rate Hikes

St. Petersburg city leaders are reevaluating their energy sourcing options in light of a recent rate hike approved for Duke Energy customers. On August 21, 2024, City Council member Richie Floyd expressed the need for the city to consider running its own electric utility to gain more control over rates and promote renewable energy use. The discussion has been spurred by Duke Energy's upcoming 2% bill increase over three years, which has raised concerns among local leaders. Clearwater is already in the process of conducting a $500,000 feasibility study to explore setting up its own utility, highlighting a trend among Florida communities to reconsider their energy partnerships.

Floyd aims to give St. Petersburg leverage in negotiations with Duke Energy by exploring all available options. He plans to start discussions next month and seek collaboration with Clearwater’s leaders. This initiative reflects a broader movement among local governments to seek alternatives to traditional utility providers in response to rising costs and a desire for sustainable energy solutions. The outcome of these discussions could significantly impact the energy landscape in the region.