Fueled by a Florida Public Service Commission order
Fueled by a Florida Public Service Commission (PSC) order, Gulf Power Company (Gulf) customers will soon realize additional savings from the Tax Cuts and Jobs Act of 2017.
The Commission approved an additional $9.6 million in customer bill reductions, enabling residential customers to see a monthly bill reduction of $1.11 per 1,000 kWh in January 2019.
“We want customers to benefit from the federal tax reductions, and we will continue to find ways the law can help lower electric bills,” Art Graham, PSC chairman, said.
The Public Service Commission ensures that customers will directly benefit from the savings through lower bills. What Gulf would have paid in corporate income taxes will instead be used to reduce rates.
The Public Service Commission approved a negotiated plan in April to apply the 2017 federal tax law that was supported by the Office of Public Counsel, the Florida Industrial Power Users Group, the Florida Retail Federation, and the Southern Alliance for Clean Energy. The plan saved Gulf customers $103.2 million.
Gulf officials said the utility serves nearly half a million customers in 71 towns and communities throughout Northwest Florida.
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