Duke Energy Claims It Would Cost $1 Billion for Clearwater to Drop Utility Company, Mayor Responds

Duke Energy claims it would cost $1 billion for Clearwater to drop utility company, mayor responds

Duke Energy is amping up its fight to stay plugged in as the main utility provider for all residents and businesses in the City of Clearwater. On Monday, the company unexpectedly released a study which found that it would cost the city between $1.13 billion and $1.52 billion – depending on timing and other factors – to take over Duke’s equipment and form a municipal-run utility.

Duke Energy says Clearwater would have to pay over $1B to drop the utility

The company released its own study before the city could finished its own, another sign that this fight could get messy.

Duke: City-owned utility would cost over $1 billion

Clearwater officials allocated $500,000 to weigh the pros and cons of establishing a municipal utility in August 2024. St. Petersburg City Council members have also broached the subject.  Duke Energy Florida subsequently commissioned its own third-party analysis and released the findings Monday. Consultancy firm Concentric Energy Advisors determined it would cost Clearwater over $1 billion to seize the utility’s assets and provide power for roug…