GULF POWER HURRICANE RECOVERY COSTS

Gulf Power Company has reported first-quarter 2019 net income of 37 million dollars, or 8-cents a share and said their base retail operation and maintenance costs were down nearly 5%. The average number of customers did not increase as a result of continued impacts from Hurricane Michael in 2018. Gulf Power has asked the Florida Public Service Commission for 350 million dollars in Hurricane Michael restoration costs as a customer surcharge the would add about $8.00 a month on a 1,000-kilowatt-hour residential bill. The surcharge would remain until the storm costs are fully recovered which will take approximately five years.

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