Florida Power & Light and Gulf Power integrated into one company, brand
Florida Power & Light (FPL) and Gulf Power, two companies owned by NextEra Energy, have integrated into one company under the FPL brand.
“This is an exciting day for everyone at FPL and Gulf Power, as well as the 5.6 million customers we serve across Florida from Miami to Pensacola, as we expand to Northwest Florida America’s best energy value – electricity that’s not just clean and reliable, but also affordable. Customers in Northwest Florida will benefit from increasingly more affordable electric bills as part of the company’s approved four-year rate plan,” Eric Silagy, president and CEO of FPL, said. “Since the acquisition of Gulf Power in 2019, our team has worked tirelessly to identify and implement productivity improvements and integrate the two companies, improving reliability roughly 50 percent and reducing the carbon dioxide emissions rate nearly 30 percent in just three years. Today’s milestone is the next step in continuing to build a more resilient and sustainable energy future all of us can depend on, including future generations.”
The change is expected to reduce annual operations and maintenance expenses in 2022 by $86 million. Further, FPL also projects long-term combined system benefits of approximately $1.5 billion as a result of power generation upgrades already underway, a new transmission line physically connecting both utility systems, and a common fleet of power generation resources. All in all, the combination of the two companies will save customers more than $2.8 billion over the lifetime of these assets.
All Gulf Power office buildings, trucks, and uniforms will be rebranded as FPL over the coming months.
“While the logo on our bucket trucks and office buildings is changing, our steadfast commitment to Northwest Florida will remain as strong as ever,” Silagy said. “The FPL team remains proud to continue to call you our neighbors and remain in Northwest Florida to serve you.”
The company’s new four-year rate plan goes into effect on Jan. 1, 2022. The plan unifies the rates and tariffs of FPL and Gulf Power and supports long-term investments in infrastructure, clean energy, and innovative technology. For customers in Northwest Florida, a typical 1,000-kWh residential customer bill is projected to decline over the next four years.
FPL serves more than 5.6 million customer accounts supporting more than 11 million residents across Florida.
