PSC To Set Higher Rates For Gulf Power; Nothing For McDavid Plans

March 9, 2012

The Florida Public Service Commission will hold conference Monday in Tallahassee to consider to set new higher rates for Gulf Power Company customers. The new rates will not include any money specifically for a potential Gulf Power plant in North Escambia.

Customer rates will be based on the PSC’s February 27 decision that reduced  the company’s request by $37.5 million.  The PSC also lowered the company’s requested return on equity from 11.7 to 10.25 percent., setting its revenue requirement increase at $64.1 million.

While the increase was less than the company sought, it was 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 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.

Gulf Power serves approximately 431,000 customers in eight counties in Northwest Florida.

The Special Commission Conference will be broadcast online at www.floridapsc.com (look for the “Watch Live Broadcast” icon on the left side of the web page).

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. One of many Gulf Power “Posted” signs that line the roads in the area of the potential plant. NorthEscambia.com photos, click to enlarge.

Comments

5 Responses to “PSC To Set Higher Rates For Gulf Power; Nothing For McDavid Plans”

  1. 429SCJ on March 12th, 2012 8:19 am

    There is a glowing bright side to this reactor. If things were to go from bad to worse, NWFlorida would have a measure of independance as far as power generation is concerned, providing we have the operating and maintenance resources on hand. That thing may be an ace in the hole, or something else.

  2. barrineau on March 9th, 2012 8:13 pm

    I wish it were cheeper to go solar !

  3. David Huie Green on March 9th, 2012 5:43 pm

    REGARDING:
    “maybe it is time to think about Nationalnizing the power grid.”

    Okay, I thought about it, don’t like it.

    David for working power systems
    and light at night

  4. Jane on March 9th, 2012 5:11 pm

    We do all these things…insulationing, changing light bulbs, lowering thermostats in winter, just so they can raise the rates and then we owe them more than we saved by spending money on all these things!!! What is the point?

  5. 429SCJ on March 9th, 2012 4:57 am

    With all the talk about privatizing the Prison System, maybe it is time to think about Nationalnizing the power grid.

Written by William Reynolds · Filed Under News