The Florida Public Service Commission on Thursday approved reductions in the monthly bills of customers of the state's largest electric utilities.

The regulatory board approved a request by Duke Energy Florida to end in May --- two years earlier than planned --- a fixed monthly charge of $3.45 per 1,000 kilowatt hours of electricity.

Customers pay that amount for costs related to a scuttled nuclear project in Levy County.

Regulators and utilities commonly use 1,000 kilowatt hours as a benchmark for residential customers, though many homes consume larger amounts of electricity each month.

Duke spent approximately $1.1 billion on the nuclear project, including the purchase of 5,200 acres and equipment, research regarding 200 miles of transmission lines and a state site certification.

The reduction is expected to bring the typical monthly bill to $121.94, according to Duke.

The commission also approved a request by Florida Power & Light to reduce the typical residential monthly 1,000-kilowatt hour bill by $3.01 due to savings on fuel costs.

Starting in May, the typical residential bill will be $97.11, down from $100.12 in April, according to FPL.

The utility's business customers are also expected to see a 3 percent to 6 percent decrease, depending on the rate class and type of service.

From our media partner News Service of Florida