Progress Energy Florida Forecasts Lower Fuel Costs for 2007
Posted on: Wednesday, 25 October 2006, 15:01 CDT
ST. PETERSBURG, Fla., Oct. 25 /PRNewswire-FirstCall/ -- Progress Energy Florida (PEF) customers will pay less for the fuel used to generate electricity next year than was previously forecast, according to revised estimates filed today with state regulators.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020923/CHM008LOGO-c )
The current projection calls for the fuel charge on next year's residential electric bill to decrease by nearly 3 percent per 1,000 kilowatt- hours (kWh) under current charges, from $49.79 to $48.32. Including other proposed costs for environmental compliance and energy-efficiency programs, the total residential bill for 1,000 kWh in 2007 is estimated to be $110.69, up about 1 percent.
"We are pleased to offer our customers some relief from the high fuel prices that have been driving up the costs of electricity," said Jeff Lyash, president and CEO of Progress Energy Florida. "Our balanced approach to the challenges of growth and fuel-price volatility has given us the flexibility to take advantage of favorable economic conditions for the benefit of our customers. We continue to encourage our customers to manage their electric costs through our free and innovative energy-efficiency options and Budget Billing program."
In September, PEF forecast that rising fuel prices would increase the cost of electricity by almost 2.8 percent over current charges for 1,000 kWh. That estimate was based on the most current economic data available at the time. The revised projection filed today reflects the recent worldwide decline in prices for oil and natural gas. If approved by the Florida Public Service Commission, the new charges would take effect with the January 2007 billing cycle.
PEF makes no profit on fuel charges, which are different from the utility's base rate, which includes the non-fuel costs of providing electricity to customers. PEF's base rates have remained stable for more than two decades, while the number of customers has grown by 316,000 in the past 10 years to more than 1.6 million.
PEF uses coal, oil, natural gas and nuclear power to maintain the most diverse fuel mix of any utility in the state, which helps mitigate the impact of increases in any one fuel.
To further encourage the efficient use of energy, a two-tiered fuel rate for residential customers charges a lower rate for the first 1,000 kWh and a higher one for additional usage.
PEF offers a variety of energy-efficiency tips to help customers save money on their bills, including:
- Monitor your thermostat. In warm weather, each degree above 78 can save between 7 percent and 10 percent on electric bills. In cold weather, each degree below 70 can save 6 percent to 8 percent. - Inspect air conditioning system filters monthly and clean or replace them as needed. - Reduce the temperature setting on the electric water heater to 120 degrees. - Use ceiling and portable fans to keep air circulating, but turn them off in unoccupied rooms - Close blinds, drapes and shades during the hottest part of the day. This keeps the sun's rays from heating your house. Other PEF programs designed to assist customers include:
Home Energy Check: PEF offers a free home-energy inspection that surveys household insulation, duct work, water heating, cooling and heating systems and overall efficiency. Customers can complete a home-energy check online, or by mail, phone or through a visit by a PEF representative. For more details on this and other energy-efficiency programs, visit http://www.progress-energy.com/save or call 888-302-8348.
Budget Billing: Customers on fixed incomes or others who need a bill that is a consistent amount are encouraged to take advantage of Budget Billing. The program is free and helps customers forecast monthly energy costs and better plan their finances. Customers pay an average amount that is approximately the same each month. The difference between the budget billing amount and the actual amount also appears on the bill.
Energy Neighbor Fund: Customers who need assistance paying their electric bills can receive help through the Energy Neighbor Fund. All funds collected from participating PEF customers and employees are distributed locally through social service agencies to neighbors in need. The fund was established in 1988 to assist customers who are experiencing temporary financial difficulties.
For more information, visit http://www.progress-energy.com/ or call 800-700-8744.
Progress Energy Florida, a subsidiary of Progress Energy , provides electricity and related services to more than 1.6 million customers in Florida. The company is headquartered in St. Petersburg, Fla., and serves a territory encompassing over 20,000 square miles including the cities of St. Petersburg and Clearwater, as well as the Central Florida area surrounding Orlando. Progress Energy is the 2006 recipient of the Edison Electric Institute's Edison Award, the industry's highest honor, in recognition of its operational excellence. In 2005, the company also received the prestigious J.D. Power and Associates Founder's Award for dedication, commitment and sustained improvement in customer service. For more information about Progress Energy, visit the company's Web site at http://www.progress-energy.com/.
Caution regarding forward-looking statements:
This release contains forward-looking information within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Progress Energy, Inc., Florida Progress Corporation and Florida Power Corporation (collectively, the "Company") caution that prospective rates are dependant on a number of factors that are not within the control of the Company. These factors include the cost of fuel, adverse weather, energy demand, the costs to comply with environmental and other regulations, taxes and other factors. Additionally, regulatory approval of requested fuel price cost adjustments cannot be guaranteed by the Company. The Company expressly disclaims any duty to update any of the forward-looking information.
Photo: http://www.newscom.com/cgi-bin/prnh/20020923/CHM008LOGO-cAP Archive: http://photoarchive.ap.org/PRN Photo Desk, photodesk@prnewswire.com
Progress Energy Florida
CONTACT: Progress Energy Florida 24-hour media line, +1-866-520-6397
Web site: http://www.progress-energy.com/http://www.progress-energy.com/save
Source: PRNewswire-FirstCall
Related Articles
- Consumers Energy Customers Can Even Out Their Monthly Payments By Choosing Budget Plan
- Consumers Energy Customers Urged to Keep Gas and Electric Meters Free of Snow, Ice
- Consumers Energy: Customers Should Expect a 7 Percent Increase in Winter Heating Bills, Down Sharply From Earlier Projections
- Major Players in the Renewable Energy and Alternative Fuels Markets to Meet at Cutting Edge Upcoming Infocast Events
- New Solar Energy System Makes It Possible to Produce Wholesale Electricity at a Cost Competitive With Fossil Fuels
- Verde Energy Serves Its 10,000th Renewable Energy Customer
- It's an On-Line World - More Than 250,000 Consumers Energy Customers Now Receive Bill Electronically
- Consumers Energy Customers Can Go Online to Report Outages, Get Restoration Information
- Alpha Natural Resources to Acquire Mining Operations, 73 Million Tons of Coal Reserves From Progress Fuels
- PSNC Energy Customers to See Natural Gas Price Rise 23 Percent
 |
 |
User Comments (1)
| 1. |
Posted by theresia leggett on 01/20/2009, 12:48 they are charging too much for lights and they should not raise them any more the way the econmy is today and i really striggle tio pay my bill now my husband just had a stoke and i had to retire to take care of him and its very hard |
RSS Feeds