TALLAHASSEE, Florida — The state office representing customers on utility issues last week stepped up its criticism of Tampa Electric’s three-year, $445.8 million rate hike request pending before state regulators.
The Office of Public Counsel wrote in a post-hearing brief filed last week that Canadian parent company Emera’s financial needs are driving Tampa Electric’s request for a rate hike in Florida.
The Nova Scotia Legislature passed a bill in 2022 restricting the revenue of Emera’s subsidiary there, Nova Scotia Power, raising concerns among investors and bond rating agencies, the OPC lawyers wrote.
They wrote that Emera, in response to those restrictions in Canada, is proposing rate increases and a higher return on equity to squeeze more revenue out of its Florida customers.