Florida commission approves base rate increase settlement

The Florida Public Service Commission (FPSC) approved a settlement agreement this week, regarding the Gulf Power’s petition to increase base rates in order to invest more into the reliability of the energy grid
and maintain a balanced energy mix.

Gulf Power, the Office of Public Counsel, Florida Industrial Power Users Group and the Southern Alliance for Clean Energy (SACE) developed and signed the agreement.

“This agreement is good for all involved, including Gulf Power’s customers,” Gulf Power Chairman, President & CEO Stan Connally said. “It supports our current infrastructure investment — which helps us continue to provide our customers in Northwest Florida with long-term, reliable power and a balanced energy mix.”

The design of all rates necessary to implement the settlement agreement is still being finalized, but Gulf Power estimates that the average residential customer’s bill will increase by approximately five percent. The current average residential bill is $144, so the average customer would see an increase of $7 for a total of $151 subject to FPSC approval.

FPSC will approve final rates by May 31 and new rates will go into effect July 1, 2017.

“We must always have electricity available when and where our customers want it and need it,” Connally said. “These investments are necessary to meet the expectations of our customers now, and for future generations to come.”