The Florida Public Service Commission (PSC) today approved rates for Gulf Power Company (Gulf) that are lower than its current customer rates. Today’s rate decision is based on the Commission’s February 27 vote that reduced Gulf’s $101.6 million revenue request by $37.5 million.
With the approved increase to Gulf’s operating revenues of $64.1 million for 2012–coupled with a recent decrease in Gulf’s fuel charge–the total monthly bill for a customer using 1,000 kilowatt hours (kWh) will increase by $3.86, from $122.67 to $126.53, effective on April 11. Customers are currently paying $127.16 per month for the same usage, since Gulf’s approved interim increase on September 22, 2011.
The PSC also approved a $4 million step increase to include Gulf’s Turbine Upgrade Projects for Crist Units 6 and 7 in rate base rather than through the Environmental Cost Recovery Charge on the bill. Effective in January 2013, the base rate step increase will have a $.48 impact on the base rate portion of a customer’s 1,000 kWh bill.
“Through the Commission’s careful, comprehensive rate review and the recent decrease in fuel charges, Commissioners were able to mitigate the potential financial impact on Gulf customers,†PSC Chairman Ronald A. Brisé said. “With today’s decision, Gulf can continue providing its great customer service, as we learned from customers at hearings last summer.â€
Today’s vote concludes all remaining Commission action in Gulf’s rate case. Gulf filed its rate increase petition with the PSC in July 2011, and Commissioners heard from the utility’s customers through correspondence and at hearings held in Pensacola and Panama City last September.
Gulf serves more than 431,000 retail customers in 8 counties in Northwest Florida.