Gulf Power customers to see reduced rates due to tax savings starting in January

Starting in January, Gulf Power customers will see price reductions of approximately 2 percent due to tax savings and lower costs.

The average residential Gulf Power customer using 1,112 kilowatt-hours per month will see a $2.70 reduction in their monthly energy bill. Customers who use more electricity will see more savings, while customers who use less will see less.

“This tax reduction and lower costs mean lower energy prices beginning in customers’ January bills,” Gulf Power spokesperson Jeff Rogers said. “This will be the eighth time in 10 years we’ve been able to decrease prices with the average customer saving about $32 per year.”

In October, the Florida Public Service Commission (PSC) approved Gulf Power’s request to reduce rates. The rate reduction reflects the remaining tax savings from the Tax Cuts and Jobs Act. The price drop includes lower costs for fuel, environmental controls, and energy conservation programs. These clauses are reviewed annually.

“We’re extremely excited that electricity prices for our customers in Northwest Florida will be the lowest they’ve been in five years,” Rogers said. “As we pass along these additional savings to our customers, we will continue to invest in Northwest Florida’s energy grid to maintain the safe, reliable and affordable service our customers have come to expect.”