Public Service Commission approves new customer rates for Gulf Power’s largest-ever construction program
Tuesday, the Florida Public Service Commission approved the settlement filed by Gulf Power and consumer representative groups to the case regarding Gulf Power’s petition to increase base rates.
The new customer rates will help pay for the largest power grid construction program in the history of the company.
Starting last year and continuing over the next three years, the company is building and replacing power lines and infrastructure, some more than 70 years old, to keep electricity flowing to its 430,000 customers.
In addition, new lines and equipment are needed to comply with new mandatory federal environmental regulations.
The formal request was filed in July.
The residential bill in January 2014 for 1,000 kilowatt-hours of electricity is currently slated to be $127.94. That same bill will increase $4.06, an increase of about 3.2%.
In addition, in January 2015, the price will increase an additional $2.42 per 1,000 kilowatt-hours of electricity. Originally, Gulf Power filed a request that would have increased the cost for a residential customer using 1,000 kilowatt-hours of electricity $10.93 per month by the end of 2015.