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Friday October 24th 2014

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Gulf Power drops rates

The Florida Public Service Commission (PSC) today voted to reduce the fuel and purchased power charge on Gulf Power Company (Gulf) customer bills. Gulf residential customers using 1,000 kilowatt hours will see their total monthly bill, including gross receipts taxes, decrease by $3.33 to $122.46, effective March 1.

“Reduced market prices for fuel saves customers money on their monthly energy bill that, many times, can be put toward other family necessities,” said Chairman Ronald A. Brisé. “The PSC’s authority to adjust the fuel charge protects customers from higher energy bills and allows consumers to stretch their dollars as Florida’s economy continues to improve.”

Typically, the PSC reviews and determines fuel charges annually in November to reflect changing fuel costs. Gulf requested this mid-course adjustment due to a reduction in projected 2012 natural gas prices and an unexpected over-recovery for actual fuel expenses in 2011. Florida’s investor-owned utilities are not allowed to earn a profit on the cost of fuel to generate electricity.

Gulf will notify its customers of the revised fuel factors through an insert in their March bill.