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(RTTNews) - Duke Energy Corp. (DUK), Monday announced its plan to reduce energy rates in June in anticipation of lower fuel prices.

According to the fuel midcourse rate request filed with the Florida Public Service Commission, a regular Florida residential customer with a monthly usage of 1,000 kWh would see their bill decline by $5.90, or almost 4 percent.

Similarly, commercial and industrial customers would see a cut of 3.5 percent and 7.0 percent, respectively, in their bills.

Speaking about the announcement, Melissa Seixas, Duke Energy Florida state president, said, "With fuel prices expected to decline, we have an opportunity to lower rates for a second time this year for our customers, just as we prepare for the higher energy usage that come with summer months."

Currently, Duke's stock is trading at $95.97, up 0.07 percent on the New York Stock Exchange.

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