Tampa Electric wants ‘egregious’ profit from Floridians to help ailing finances, lawyers allege
October 22, 2024
As the months have dragged on in Tampa Electric’s quest for state approval to charge customers higher rates, consumer advocates have questioned why the company has been so steadfast in its pursuit of shareholder profits that would be among the highest in the nation.
On Monday, these opposing lawyers filed scathing arguments with their conclusion: Financial problems at the utility’s Canadian parent company, Emera, are driving Tampa Electric to try to squeeze “egregious” profits from Floridians, they wrote. That’s because utilities are more strictly regulated in Canada, so Florida has become the corporation’s “golden goose,” the lawyers alleged, with Tampa-area residents providing a disproportionate amount of money for the share of Emera’s customers they represent.
