PSC Approves New Rates For Gulf Power Customers – An Increase Now, Decrease Later

October 27, 2021

The Florida Public Service Commission has approved a four-year rate settlement for Florida Power & Light (FPL) that will mean a near term rate increase for Gulf Power customers in the Panhandle, but a reduction in the long term..

The rate plan will directly support the largest solar buildout in the United States, including 16 million solar panels across more than 50 new sites. The company said that is enough to power one million homes.

FPL’s parent company NextEra purchased Gulf Power in 2019, and the companies legally merged on January 1, 2021. FPL now serves 5.6 million customer accounts from Miami to Pensacola across more than half of Florida.

Based on the approved rate settlement agreement and FPL’s September filing for fuel and other clauses, the standard 1,000-kWh typical monthly residential bill benchmark for Gulf Power in Northwest Florida would be:

  • 2021 – $129.24
  • 2022 – $137.49
  • 2023 – $134.44
  • 2024 – $130.25
  • 2025 – $126.47

Gulf Power customers will pay more than FPL customers on that average 1,000 kWh usage — $23.64 more in 2022, declining to $9.45 more in 2025. By 2027, customers will pay the same across the board. The settlement does mean that by 2025, Gulf Power customers will be paying less on average that in 2021.

The bill estimates do not include taxes, fees or hurricane surcharges.

Typical business customer bills in Northwest Florida are expected to grow at an average annual rate of up to 1.7%, depending on the rate class, and remain below the national average.

Pictured: A sign on 10 Mile Road at Pate Street for the  Gulf Clean Energy Center, formerly known as Gulf Power’s Plant Crist. Photo for NorthEscambia.com, click to enlarge.

Comments

15 Responses to “PSC Approves New Rates For Gulf Power Customers – An Increase Now, Decrease Later”

  1. Sherry Sabatino on December 11th, 2021 2:22 pm

    I am a single senior citizen with a limited income and I have had energy select with Gulf power and it has helped me a lot and now since fl. Power and light are taking over it will stop and my bill will be out of sight. When do we get a break between the power and President Biden you are either trying to kill the elderly or putting us on the street. This is not America any more, it is like living in hell.

  2. Perry Hanson on November 18th, 2021 7:57 pm

    I’m very disappointed in Gov. DeSantis, and his pointless war on masks and vaccinations. How about directing some of that anger toward our rising fuel and energy prices!

  3. Disabled Combat Veteran on November 16th, 2021 1:17 pm

    The CEO of NexEra, James L. Robo makes $22,768,737 in total compensation. Of this total $1,500,000 was received as a salary, $4,800,000 was received as a bonus, $3,024,983 was received in stock options, $13,076,826 was awarded as stock and $366,928 came from other types of compensation.

    So tell me again how a PUBLIC UTILITY is paying this OBSCENE Salary to the CEO, when Floridians struggling to cope with the skyrocketing Inflation we’ve seen and will continue to see under the Biden Administration, is being FORCED to pay for a 6% Rate Increase (Taxes, Fees, and Hurricane Fees NOT included) at this time.

    The RICH get RICHER and the Rest of Us FOOT THE BILL.

  4. Disabled Combat Veteran on November 16th, 2021 1:07 pm

    The current Federal Administration has declared War on the Oil/Gas Industry. People don’t seem to realize that EVERYTHING including the Electricity in their homes depends heavily on the Oil/Gas Industry. Short of Nuclear Florida Powerplants RELY on Natural Gas, Coal, or Oil to drive the run the generators or heat the water to drive the turbines.

    It’s predictable that we’re getting hit with a 6% Rise in Energy Costs for 2022. But if this Administration continues its War on OUR Energy, those promises of the rates “falling” over the years following is an EMPTY promise at best.

  5. In the dark on October 28th, 2021 12:41 pm

    When big money gets involved we pay the price. Gone are the days when utilities were a community-based operation. FPL is owned by NextEra, which is traded on the NYSE. As such, the CEO gets compensated for how well the stock does. The current CEO, James Robo, gets a $1,500,00 per year salary. Total compensation for 2020? Valued at $22,768,737! Still in the dark as to why rates keep going up?

  6. Andrea on October 27th, 2021 5:24 pm

    My husband had a good point the other day, he said it’s a shame our Military Sons and Daughters fight for our freedom and every day we lose more and more of our freedom. Gulf Power raising our rates and being forced to pay whatever they are “approved” to charge us is a perfect example, what choice do we have? None. What will they force on us next? Sad!!

  7. Mike O'Farrell on October 27th, 2021 3:29 pm

    Gulf Power men on the road, the lineman, do an excellent job keeping us with electricity. I wish I could say the same for the organization behind them. They consistently raise our rates, mislead and lie to us, and their Customer Service can only be accessed by one telephone line, and it is absolutely useless even if you can get through to a human being. The PSC really needs to start monitoring them instead of rubber stamping everything that they want to do. In view of everything else, it should make you very skeptical about all this solar power stuff. Any suggestion they make supposedly to you to save you money is going to benefit them, not you.

  8. Beach Boy on October 27th, 2021 12:56 pm

    http://www.northescambia.com/2021/01/gulf-power-and-florida-power-light-ask-state-to-approve-merged-power-rates http://www.northescambia.com/2021/02/gulf-power-seeks-extra-charge-to-recover-hurricane-sally-restoration-costs http://www.northescambia.com/2021/03/state-approves-two-rate-changes-for-gulf-power-heres-what-it-means-for-your-bill Gulf Power…..how many increases do you need????

  9. Bob on October 27th, 2021 12:26 pm

    Solar panels will reduce monthly rates…
    Natural gas conversions will reduce monthly rates…
    Wind energy will reduce monthly rates…
    Green energy will reduce monthly rates…

    Blah, blah, blah…

    Monthly rates always rise and service will always falls…

  10. Alan on October 27th, 2021 8:58 am

    The pricing shown in this article is what it will be IF they don’t go back to the FPSC for 5 years. Odds of that happening are zero.

    Pricing will continue to rise as subsidized wind and solar come on line with pricing further exacerbated by the current administration with executive orders, regulations, and approval delays. Even as the price of oil and natural gas continue to rise, the larger energy companies are deciding not to invest in new drilling in the US to replace legacy wells, which are continually decreasing in output.

  11. retired on October 27th, 2021 8:41 am

    The rate always goes up NEVER DOWN, like taxes. Why do they need investers? Use that profit money to make improvements. Why not supply solar panels, at cost to the home owners that want them? OOOOOOOOOOOOH that’s right then they would LOSE money.

  12. J.Larry Seale on October 27th, 2021 8:35 am

    the only way senior have to control cost
    is cut back on use. Yet, the PSC seem to
    rubber stamp any rate increase that come before
    them. I though they were there to protect us from them.
    How can we make it when we don’t have someone to
    to look out for us, what is the use of have a PSC when
    they look after big company with record profits….
    There need to be a change….other wise us senior
    and other will drown in debt………

  13. Beach Boy on October 27th, 2021 8:23 am

    Gulf Power…How many times are you going to increase our power bill??? Just a few months ago you increased our rates to help pay for the millions spent from Hurricane Sally….BUT were reimbursed from FEMA. Did our rates comes down…NO. Now you’re going to increase it again???? Where do you think this money is going to come from to continue paying for your rate increase?????? GIVE US A BREAK.

  14. William 2 on October 27th, 2021 7:56 am

    In my opinion, water and power should be provided free, we pay in enough in taxes to provide this service free of charge. Besides, they are monopolies, it’s not like the industry is competitive and we have choices. We are literally forced to accept the service of the power and water industry, we are not allowed to have a well to provide water to the majority of homes and we have to have power or the health department will come and forcefully remove us from our home.

  15. mnon on October 27th, 2021 2:43 am

    Brilliant Gulf Power as if right now isn’t hard enough with inflation and expected to get worse, than you throw a rate hike on us? What happen to this natural gas conversion bringing our power bill down? Oh that’s right natural gas is expected to double in price over the next few years, so guess what your decrease will never happen, it is a pipe dream. The ONLY way it will be cheaper by 2024 is if Trump is re-elected and finishes pipelines.

Written by William Reynolds · Filed Under News