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Public Service Commission Approves Gulf Power Rate Increase

Gird your loins! Your next trip to the mail box may be a shocker! In early December, 2013, the Public Service Commission gave Gulf Power Company the green light to raise base electric rates!

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A 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 percent. In addition, in January, 2015, the price will increase an additional $2.42 per 1,000 kilowatt-hours of electricity.

The deal is expected to provide 42 months of rate stability for Gulf Power’s more than 430,000 customers.

The hike allows Gulf Power to increase its revenue through base rates by $35 million in January, with another $20 million boost in 2015.energy graph 1

The money will be used to pay for 15 transmission projects, both new and upgrades.

Examples of the planned Gulf Power infrastructure investments include:

1.) Substations are being added and improved to continue to  provide reliable service to customers. In Pensacola, a substation on Devilliers Street has been rebuilt. On Allison Avenue in Panama City, a new substation has been built.

2.) Seventy miles of 70-year-old transmission line is being rebuilt from Panama City to Holmes County.

3.) An existing transmission line between Highland City and Holmes Creek substations in the Panama City area is being upgraded to maintain reliability for customers.

4.) A new 38-mile line is being added that begins in the Pensacola area and goes to the Florida-Alabama state line. This project is necessary for mandatory federal environmental compliance.

Visit www.gulfpower.com for ways to possibly save money on your energy bill.

What do you think about this increase? Are there more cost effective solutions out there for the average home owner? Post your comments here.

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