The Florida Public Service Commission (PSC) voted on Tuesday to approve a
settlement agreement in Gulf Power Company’s (Gulf) storm recovery financing
The settlement provides for the continuation of Gulf’s current hurricane
recovery surcharge through June 2009. For residential customers using 1,000
kWh, the charge is $2.57. The extension will allow Gulf to replenish its storm
reserve and recoup its storm recovery costs associated with Hurricanes Ivan,
Dennis, and Katrina.
“This Commission has a long standing policy of encouraging the
settlement of contested proceedings in a manner that benefits the ratepayers,”
Commission Chairman Lisa Polak Edgar said. “The agreement approved today
balances the various positions of the parties and serves the best interests of
Gulf serves approximately 394,772 retail customers between
the Alabama border and the Apalachicola River. In
all, Gulf Power serves customers in 71 cities and communities in Florida.