Duke Accountability Florida logo Duke Accountability Florida

Florida Ratepayers • Transparency • Accountability

Why are we paying storm bills while executives get millions in bonuses?

Duke Energy Florida is seeking to recover roughly $1.1 billion from customers for recent hurricane seasons, while corporate leadership receives substantial bonuses tied to company profits. At the same time, the company does not carry traditional insurance for most poles and wires—costs that are instead passed through to customers via regulator‑approved surcharges.

Take Action Now Read the Receipts Share Publicly

Key Facts at a Glance

$1.1B → Bills
Storm recovery charges for multiple 2024 storms are slated to be collected from customers over the next year.
Approx. $21–$32/month for a 1,000 kWh household, depending on filings and offsets.
$0 → T&D Insurance
Transmission & distribution (poles/wires) are typically not insured; utilities operate with a storm reserve and recover prudently incurred costs via surcharges.
$20.9M → CEO 2024
Duke’s CEO total pay in 2024 included a multi‑million cash incentive and large equity awards. Other C‑level bonuses reached the hundreds of thousands.
Bottom line: Profits (and related executive bonuses) are protected because extraordinary storm costs are shifted to customers through the regulatory process.

How Duke Wins — and Why the PSC Lets It Happen

The story: Duke shifts extraordinary storm costs onto customer bills while keeping profit metrics intact. Those protected profits then fund multi‑million executive bonuses. The PSC — the gatekeeper for rates — routinely signs off on the mechanisms that enable it.

Duke’s playbook

  • Pass‑through storm charges: Poles & wires aren’t commercially insured, so restoration costs are pushed onto customers via PSC‑approved surcharges.
  • Protected earnings: Because storm costs are excluded from operations, Duke’s earnings per share and allowed ROE stay strong — feeding executive incentives.
  • Settle, don’t litigate: Major rate moves often arrive as stipulated settlements with limited public challenge.

PSC complicity (the enabling environment)

  • Appointments over accountability: Five commissioners are appointed by the Governor and confirmed by the Senate; critics say this fosters political alignment with utilities.
  • Rubber‑stamp pattern: The PSC has green‑lit base‑rate hikes and storm recoveries for Duke while setting/maintaining allowed ROE levels that exceed national averages in some periods.
  • Transparency deficits: Even Florida’s Supreme Court has pressed the PSC to justify large settlements more clearly — a warning shot on oversight quality.
Bottom line: Duke’s incentives and the PSC’s approvals work hand‑in‑glove: customers absorb storm risk and rising bills, while corporate profit targets — and bonuses — remain insulated.

Ties & Influence: PSC, Governor, and Duke

Below are documented structures and public records that may enable utility influence. They are not, by themselves, proof of illegal conduct—but they explain why oversight can feel one-sided.

Appointments
Florida’s Public Service Commission has five commissioners who are appointed by the Governor and confirmed by the Senate. This structure can align regulators with the administration’s priorities and utility interests without proving misconduct.
How the PSC is appointed
Money in politics
Duke Energy and affiliates have historically spent millions on campaign contributions and lobbying in Florida—perfectly legal, but it raises questions about access and influence.
OpenSecrets overview · TransparencyUSA (Florida)
Gatekeepers
Legislators involved in recommending PSC commissioners have also received utility contributions, creating a feedback loop (recommendations → appointments → decisions) that critics argue normalizes approvals.
Policy analysis of utility influence
Court criticism
The Florida Supreme Court has pushed the PSC to better justify why large utility settlements are “fair, just, and reasonable,” reflecting judicial skepticism about the rigor of oversight.
Summary of court rebuke
Past whistleblowing
A former PSC chair publicly called the commission “corrupt” years ago—an allegation that didn’t result in formal findings but underscores long-running concerns about regulatory capture.
Local coverage of remarks
Bottom line: The appointment structure, political money, and historic critiques don’t prove a secret deal—but they help explain why rate hikes and cost recovery often sail through while affordability lags.

Scandals & Questionable Practices (2018–2025)

Findings from watchdog reports, court cases, and media investigations during the DeSantis administration. These highlight how energy prices soared while oversight lagged.

Political Donations
Utilities, including Duke Energy and FPL, funneled millions into DeSantis’s campaigns and GOP committees. Lobbyists arranged golf outings and events in exchange for access.
Washington Post: ‘I could sell golf’ — DeSantis courted donors via leisure access
PSC Appointments
All five PSC commissioners were appointed or reappointed by Gov. DeSantis. One (Mike La Rosa) received **thousands from Duke, TECO, and NextEra/FPL while in the legislature**, before regulating them.
Energy & Policy Institute: Utility contributions to Republican groups and candidates
Rate Hikes & Surcharges
PSC approved **multi-billion increases** in base rates and **storm surcharge add-ons** (e.g., ~$21/month for Duke in 2025). Profits and executive bonuses remained protected.
Reuters: Duke Energy Florida files for base rate hike through 2027
Storm Surcharge
Duke Energy filed to recover approximately **$1.1 billion in hurricane-related costs**, adding about $21/month per 1,000 kWh starting in March 2025.
Reuters: Duke Energy seeks to recover $1.1B in storm costs, passing costs to customers
Solar Fight
In 2022, Duke, FPL, and others backed efforts to **curtail rooftop solar net metering**. Despite strong public opposition, legislation passed — though DeSantis ultimately vetoed it after intense lobbying pressure.
NextEra Energy Wikipedia: Lobbying to undermine net metering and rooftop solar
Court Rebuke
In 2023, the Florida Supreme Court ordered the PSC to justify its approval of a **$4.9B settlement**, calling its process a rubber-stamp.
Energy & Policy Institute: SCOT disapproves PSC rubber-stamp rate settlements
Revolving Door
PSC regulators and state consumer advocates with utility ties approved rate deals, then exited to industry roles or lobbying positions.
Florida Politics: Richard Gentry resigns as Public Counsel amid revolving-door concerns
Bottom line: From political money to appointments, rate approvals, storm surcharges, and court rebukes — the pattern shows a pro-utility environment where Duke, FPL, and their peers prosper while Floridians face soaring bills.

Receipts: Approvals & Patterns You Can Verify

Base rates ↑
Aug 21, 2024: PSC approves a settlement letting Duke raise base rates by $203M (2025) and $59M (2026) — a unanimous sign‑off. (Linked in Sources)
$1.1B → bills
Dec 27, 2024: Duke files to recover about $1.1B in hurricane restoration costs; PSC processes route these costs to customer bills. (Linked in Sources)
Court rebuke
Oversight warning: Florida’s Supreme Court has told the PSC to better explain why multi‑billion settlements are “fair, just, and reasonable.” (Linked in Sources)
Local backlash
2024–2025: Clearwater explores leaving Duke service amid rate frustration; Duke warns of massive costs — showing how entrenched this model is. (Linked in Sources)

Everything above is cross‑referenced in Sources & Receipts so reporters and neighbors can click through.

Most Recent News (Late 2025)

$6 B Deal
Aug 5, 2025: Duke Energy sold a 19.7% stake in its Florida unit to Brookfield for $6 billion, slated to help underwrite a $4 billion capital-spending boost—while customers are still saddled with surcharges.
(Source: Reuters)
Summer Bill Shock
Consumers across Central Florida report their electric bills have spiked by up to 30 % this summer—some nearing or exceeding $600—despite conservation efforts.
(Local coverage)
Bottom line: This is a fight for fair rates, not politics. All parties—including regulators, executives, and lawmakers—should be held accountable for rate hikes and surcharges burdening families.

Sources & Receipts

  • Reuters: Duke Energy files to recover ~$1.1B in hurricane costs (Dec 27, 2024): Link
  • WUSF overview on rate impacts (Feb 4, 2025): Link
  • FOX35 Orlando coverage on bill impacts & storm line items (2025): Link
  • Reuters: DEF base‑rate filings and clean energy investments (Apr 2, 2024): Link
  • Compensation references (CEO & NEOs): company proxy summaries & coverage e.g. PDF , Summary
  • Why poles & wires usually aren’t insured (storm reserve + recovery): WMNF
  • Political spending context: OpenSecrets · TransparencyUSA

If a source link changes or a docket is updated, please contact us with the new URL so we can keep this page accurate.

Take Action Now

  1. Submit a public comment to the Florida Public Service Commission (PSC) — Tell them why storm surcharges + executive bonuses are unacceptable.
    Start here: floridapsc.com → look up the current Duke storm recovery/base‑rate docket and use their public comment option.
  2. Sign & share the petition — Demand that executive bonus policies change when storm surcharges are imposed.
    Change.org (https://chng.it/fMvXC5Lr4d). Sign Petition
  3. Tell your story — Are you a CPAP user, senior, or low‑income household hit hard by these hikes? Send a 1–2 paragraph impact statement. We compile anonymized quotes for media & regulators. Contact us.
  4. Share the facts on social — Use the press kit graphic and tag local media outlets.
  5. Ask your Senator about PSC confirmations — Urge rigorous vetting of commissioners and demand clear, written standards for affordability in future decisions.
  6. Request transparency on utility money — Share OpenSecrets / TransparencyUSA links in your comments so officials must respond on the record.
Policy ask: Tie executive incentive payouts to service reliability and affordability, and require insurance or stronger storm reserves before allowing pass‑through surcharges.

Press Kit

  • One‑page Fact Sheet (PDF): Coming soon — summarizes numbers and sources on a single page.
  • Social Graphic (PNG, 1200×630): Coming soon — “$1.1B to customers • $20M to CEO • $0 insurance for poles & wires”.
  • Talking Points:
    • Storm costs shifted to customers; profits and executive incentives protected.
    • Poles & wires typically not commercially insured; ratepayers bear the tail risk.
    • Ask regulators to condition recovery on affordability & reliability metrics.

Share Your Story

You can post anonymously. Submissions are reviewed for safety and relevance before publishing.


Recent Stories

Contact

To share your story (anonymously if you prefer) or a source we should add, email: contact@dukeaccountabilityfl.com

Privacy note: If you submit a story, we’ll only publish it with your explicit permission and will redact personal details on request.