That's a hike that, consumers say, is the last thing they need in this economy. "The timing of this bill increase is unfortunate," admits Cherie Jacobs with Progress Energy, considering how rough the economy has been for some. "We take that seriously. We don't request this increase lightly."

Jacobs says a good part of the extra income will pay for fuel like coal, which has more than doubled in price over the last year. Another big portion of the increase will help to subsidize the proposed Levy County nuclear power plant.

"This would be for things that we have already invested in," says Jacobs. Like deposits on large pieces of equipment and interest payments on the land the company has purchased. "The public service commissioner has approved passing those along to customers."

Consumer advocacy groups allege that since energy demand is down, charging customers to pay for an "unnecessary" power plant is just not fair. "Progress Energy is looking twenty years down the road," Jacobs responds. "In the next ten years, we expect the demand for electricity to grow by twenty-five percent, even considering the current downturn."

And, Progress Energy promises that once the plant comes on-line in 2016 or 2017, consumers will save around $1 billion per year in fuel costs. "Customers today are benefiting from the customers in previous years and previous generations who've invested in nuclear power plants," Jacobs is quick to remind us. "And in the same way, this generation would be doing the same thing." Progress Energy is Central Florida's largest electric utility, serving about 600,000 homes and businesses. Another area provider, the Orlando Utilities Commission, also recently raised its rates, while Florida Light and Power trimmed theirs slightly.

In Part Two of Power's Up, we'll hear more from Cherie Jacobs on ways you can trim your bill.