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State Trims Gulf Power Rate Hike, Allows No Increase For North Escambia Nuclear Plant
February 28, 2012
The Florida Public Service Commission on Monday approved a $64.1 million base-rate increase for Gulf Power Company but allowed no increase for the purchase of 4,000 acres of land for a possible nuclear power plant near McDavid.
The increase was less than the company sought — but more than attorneys for consumers and business groups said the Pensacola-based utility should receive.
Gulf Power oiginally requested a $93.5 million hike, but that number increased to $101.6 million because of accounting-related issues stemming from improvements to a power plant. The PSC on March 12 will determine how the increase will affect customers’ bills, with the changes expected to take effect April 11.
“We approved only the operating revenues needed for Gulf to provide its customers with reliable, safe electric service, which also reduced the potential financial impact on customer bills,” PSC Chairman Ronald Brise said in a prepared statement.
The Public Service Commission did not allow Gulf Power to pass along costs related to a potential nuclear-power plant site in North Escambia because the utility has not taken an initial step — known as getting a determination of need — for such a project.
The PSC also trimmed a company request to pay for new employees.
Company spokeswoman Sandy Sims said that Gulf Power was pleased the PSC had approved most of its proposals. She also said the company has not had a base-rate increase in a decade. ”
This increase was very necessary because it has been 10 years since we last were able to increase our base prices,” Sims said. “Since then, we’ve seen significant increases in the price of materials we use to make and deliver electricity.”
As part of its decision, the commission also reduced the potential investor returns that Gulf had sought. It set a 10.25 percent return on equity — a closely watched measure of profitability — while Gulf requested an 11.7 percent return.
Pictured top: One of many house that now sit abandoned near McDavid where Gulf Power has purchased thousands of acres for a possible nuclear power plant. On of many Gulf Power “Posted” signs that line the roads in the area of the potential plant. NorthEscambia.com photos, click to enlarge.
The News Service of Florida contributed to this report.
Comments
9 Responses to “State Trims Gulf Power Rate Hike, Allows No Increase For North Escambia Nuclear Plant”
i have done everything they have suggested to be energy conservative but have yet to see a drop in my bill. i barely use the dryer or oven and conserve the use of a/c for the extreme heat and humidity(def dont use the oven and dryer then). ive seen my bill rise not lower. i didnt even use heat this winter.
as far as the nuke plant….my dad worked in them and im not afraid but i would like to know if one is in my area… what if i was selling my property that would come under full disclosure and cant diclose what u dont know..
Jobs are a must in these times. Nuclear power is as safe as ever. Land owners will do well with housing that will be built in the north end. Its a win / win. Businesses will grow, I would reccomend GP consider a Split plant, half natural gas/ half Nuclear. can run on one side while maintaining the other. We have plenty of Natural gas up there. There’s nothing up there . Time to put them on the map.
REGARDING:
“Is no one concerned that Gulf Power may be putting a NUCLEAR Power plant in our back yard? I personally don’t think they will tell us until they have to, then it may be too late to do anything about it.”
Yes many are concerned. Not me, I look forward to it, but many are and have been discussing the matter for a good long while now. Part of the reason we’ve been discussing it is because Gulf Power has already said they were looking into it and that this area is the only suited for a nuclear plant in the area.
We also know they’ve been looking into it because of test wells for emergency coolant in case the water from near my house on Escambia River can’t reach them. We know they’ve been looking into it because they’ve pretty much bought enough land to build if it they choose to do so.
If anyone doesn’t know it is being considered, it is because that person isn’t paying attention.
Since nuclear power is pretty much the safest form of energy on earth, I like it. However, if Gulf Power wants me to pay for the capital expenses, I want a share of the final product. It only seems fair.
David for safe, reliable, nonpolluting,
contained nuclear power
(uncontained can be messy)
Is no one concerned that Gulf Power may be putting a NUCLEAR Power plant in our back yard? I personally don’t think they will tell us until they have to, then it may be too late to do anything about it. I only hope and pray that if that is what they are planning the people from this county will come together and try to stop it. I don’t care what they say about safety, I don’t buy into it. And what about all of that waste that goes nowhere because they can’t figure out what to do with it! I am not so worried for myself since I am not a spring chicken but I am concerned for my children and grandchildren. I had a conversation with a lawyer this morning about it, he asked my opinion since I lived up here. He agrees with me and says that he is willing to start a protest movement the minute Gulf Power ownes up to what they have planned. Hope we are not the only ones who care enough to protest.
GO GREEN. GET Solar panels. .say screw you the coop man..peopledid it once amd are doing it again…solar power,live off the land grow a garden .can your own food..
Using less energy per hour of seeing seems reasonable to me no matter how much it costs per unit of energy, but nobody should use electricity who doesn’t think it is worth what they charge.
David for reason
and twisty lights
Guess I better put in a fireplace for next winter and get used to being hot in the summer! It does no good to use all these new light bulbs, insulate the house, etc. if they just raise the power rates and you owe more than you did before you went through all the work to lower the power bills! Lose-lose!
dont forget you probably got to pay for the 7000′ injection well gulf power just had drilled in panama city
So Gulf Power still gets a rate increase and my bill still goes up. Meanwhile, the Public Service Commission gets to pretend that it actually looked out for the consumers by claiming to have reduced GP’s request by $37 million. Wow, who saw this coming?
Gulf Power got exactly what it wanted and PSC “oversight” was just window-dressing as usual. It is beyond time to end Gulf Power’s local monopoly.