Beginning in January, Gulf Power customers will see prices drop nearly 2 percent thanks to additional tax savings and lower costs. The drop was approved earlier this year by the Florida Public Service Commission. The average residential Gulf Power customer using 1,112 kilowatt-hours per month can expect to see a $2.70 drop on 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 means lower energy prices beginning in customers’ January bills,” said Gulf Power spokesperson Jeff Rogers. “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 approved Gulf Power’s request to reduce rates for 2019 and beyond. This reflects the remaining tax savings resulting from the Tax Cuts and Jobs Act. The proposed decrease comes on the heels of a previous price drop in 2018. Gulf Power worked to reach an agreement with the Office of Public Counsel, the Florida Industrial Power Users Group, The Florida Retail Federation and the Southern Alliance for Clean Energy to agree on how to best deliver these savings to customers.
A portion of the price drop includes lower costs in 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,” said Rogers. “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.”
Gulf Power residential price changes (Average residential customer monthly bill)
|January 2010||$155.50||Increase for Scrubber|
|July 2012||$127.64||Second largest decrease in company history|
|January 2014||$149.59||Increase for largest power grid construction project in company history|
|July 2017||$150.80||Increase for infrastructure investments|
|January 2018||$157.90||Increase mainly for costs of fuel to generate energy|
|April 2018||$143.79||Decrease for Corporate Tax Reform (2018 only). Largest decrease in company history.|
|January 2019||$141.09||Decrease for additional Tax Reform savings and lower costs|
(Prices for customers using 1,112 kilowatts of electricity per month.)