Gulf Power Co. has notified the Florida Public Service Commission that it intends to seek a base rate increase of about $95 million per year.
The Pensacola-based utility said Thursday that if granted, the base rate hike would be the first in 10 years and second in 20 years.
The company, which serves the western Panhandle, plans to file
the rate request in July. Gulf Power officials said details will be available then.
Base rates represent only a part of each customer's bill.
The commission more frequently approves changes in other charges for fuel, conservation programs and environmental controls.
The utility says it needs higher rates to keep up with cost increases for copper, equipment, fuel for vehicles and other expenses.