The Issue: Private Monopoly

• Affordability: Duke Energy is massively overcharging us. On average, we pay the second highest rates in all of Florida.

• Durability & Services: Duke has not invested in reliable infrastructure to withstand the impacts of climate change, resulting in extended outages. Duke Energy provides unreliable service in comparison to similar entities throughout the state.

• Bailout: Duke Energy is seeking a bailout of public funds to shore up its revenue, despite being a private entity that accepts the risks of doing business. The increase was filed at the end of December, the FL PSC approved the rate hikes for Duke Energy and TECO on February 5th, 2025.

• Monopoly: Duke Energy is a private monopoly that residents have no say in managing and no democratic accountability.

The Solution: Public Utility

• Saves You Money: Public power would save residents’ money and reinvest the profits back into our community, rather than going to shareholders. While Duke successfully petitioned to raise its rates by $32-40/month, the Lakeland City Commission voted to lower its fuel charge for its customers (source).

• Improved Services: A public utility will be dedicated to providing services for residents, rather than enriching Wall Street shareholders. This can include better response times.

• Green Energy: A public utility can invest in more sustainable forms of energy like solar, helping St. Pete to actually meet its Clean Energy goals. Example: JEA Integrated Resource Plan - energy efficiency goals aim to reduce JEA's overall emissions since 2005 by 80 percent.  

• Accountability: A public utility would be more transparent and accountable to our community. Examples: Orlando, Jacksonville, Gainesville, Fort Pierce, etc., hold their board meetings publicly, and community members are able to attend and speak.

We are urging the City of St. Petersburg to:

• Commission and fund a feasibility study by the end of 2025 to examine costs, viability, and renewable energy alternatives for our power supply.

• Begin negotiations with Duke Energy to buy out our fixed capital, and to ‘stop the clock’ on our current agreement when it expires in August 2026.