Southern : Gulf Power and Office of Public Counsel agree on customer rates

Gulf Power and the Office of Public Counsel are asking the Florida Public Service Commission to approve a settlement relating to a rate request filed in October. The energy provider's request would allow them to continue to invest in the reliability of the energy grid and maintain a balanced energy mix including 24/7 energy sources as well as renewables like wind and solar. A balanced energy mix ensures customers have energy whenever they need it and helps keep prices lower.

'This compromise is good for all involved, including Gulf Power's customers,' said Stan Connally, Gulf Power Chairman, President & CEO. 'Most importantly, it supports our current infrastructure investment - which ultimately helps us continue to provide our customers with long-term, reliable service with a balanced energy mix across Northwest Florida.'

The proposed residential Advanced Pricing Package is not a part of the settlement agreement.

'We will continue to explore other options that give our customers the value that they expect through bill predictability and choice in pricing based on how our customers prefer to control their energy usage,' said Connally. 'We will continue to gather customer feedback and find opportunities to deliver service to fit the lives of our customers.'

The average residential customer bill is currently $144. If the settlement is approved by the FPSC, that same bill will increase to an estimated $151. This new amount would be less than the average residential customer paid in 2015. Originally, the energy provider filed a request that, if approved, would have increased the cost for an average residential customer to $158 per month on July 1.

Connally cited the need to continue to invest in the reliability of the grid to ensure a secure energy future.

'Our obligation is to have the electricity available when and where our customers need it,' Connally said. 'This investment is necessary to meet the expectations of our customers now, and for future generations.'

Gulf Power residential price changes (Average residential customer monthly bill)

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Gulf Power is an investor-owned energy provider with all of its common stock owned by Atlanta-based Southern Company. Gulf Power serves more than 450,000 customers in eight counties throughout Northwest Florida. The company's mission is to safely provide exceptional customer value by delivering reliable, affordable and environmentally responsible electricity while strengthening our communities. Visit online at MyGulfPower.com or on the company's Facebook page. News information can be found at GulfPowerNews.com.

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