Big Electric Rate Cut Coming for Gulf Power Customers

Gulf Power customers are about to get a break on their power bills.

The Florida Public Service Commission is about to consider a fuel rate reduction for Gulf Power.

If approved, customers' bills will drop starting in July, to about $116.61-cents for 1-thousand kilowatt hours. That’s the average residential bill. And, when approved by the PSC that's a decrease of almost 10-dollars off the current rate.

Gulf Power officials say it's the largest rate reduction in the company's history, and will more than off-set the base rate increase that went into effect last month.

Part of the savings come from cheaper natural gas costs and part from Gulf Power's conversion from coal to natural gas.

In 2009, the company's plants used about 64% coal to produce electricity, compared to 35% natural gas. Those usage's have now flip-flopped.


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