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 2009$143.58Increase
January 2010$155.50Increase for Scrubber
January 2011$141.66Decrease
Sept. 2011$146.76Increase
January 2012$138.29Decrease
March 2012$134.59Decrease
April 2012$138.65Increase
July 2012$127.64Second largest decrease in company history
January 2013$130.05Increase
January 2014$149.59Increase for largest power grid construction project in company history
January 2015$156.36Increase
January 2016$150.27Decrease
January 2017$144.01Decrease
July 2017$150.80Increase for infrastructure investments
January 2018$157.90Increase mainly for costs of fuel to generate energy
April 2018$143.79Decrease for Corporate Tax Reform (2018 only). Largest decrease in company history.
January 2019$141.09Decrease for additional Tax Reform savings and lower costs

(Prices for customers using 1,112 kilowatts of electricity per month.)