TECO Unit To Pay $24M To End Rate Hike Fight

Law360, New York (July 20, 2010, 6:13 PM EDT) -- A TECO Energy Inc. subsidiary is giving customers a $24 million refund to end a dispute with industrial consumers and others over a base rate increase.

TECO unit Tampa Electric Co., Florida's attorney general and its Office of Public Counsel, the Florida Industrial Power Users Group and the Florida Retail Federation asked the Florida Public Service Commission on Tuesday to approve the deal, which would allow the utility to keep its $24.42 million annual base rate increase in exchange for furnishing the one-time refund.

The settlement...
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