Florida Public Utilities Company Files For Third Rate Decrease This Year

October 20, 2011–The cost of electricity could once again be reduced for customers of Florida Public Utilities Company (FPU). The Company has filed with the Florida Public Service Commission (FPSC) for new lower fuel recovery rates in its Northwest Division. The lower rates could be in effect as soon as January 2012.

If approved by the FPSC, the Company’s latest rate reduction would reduce the average Northwest Division residential customer bill by approximately 3.5%. The proposed rate decrease follows previous reductions of approximately 3% in January 2011 and 10% in July 2011. Following the January 2012 rate reduction, a residential customer using 1,000 kilowatt hours would realize a monthly savings of over $26, compared to their 2010 cost of electricity.

“When I accepted the FPU job 16 months ago, I promised we would do everything possible to bring down electric rates in our Northwest Division,” said Jeff Householder, FPU President. “I am pleased that we have been able to keep that promise. The new rates we have proposed to the FPSC will bring us back in line with other electric utilities in the Florida Panhandle. I really appreciate the patience and support from our customers as we worked to lower rates over the past year.”

Householder went on to say, “It’s not well known, but FPU’s costs to operate the Northwest Division electric system, excluding our wholesale power costs, have remained among the lowest in the state. We have had only three increases in our base operating rates over the past 23 years.”

“I realize that in these difficult economic times, every dollar saved is important to our customers. All of our Northwest Division employees are committed to continue holding our operating costs and rates down. At the same time, we will keep investing in system and storm hardening improvements that maintain our traditional high levels of service reliability. We’ve been providing electric service in Northwest Florida for over 75 years. We know the service we provide impacts people’s lives. We take very seriously the responsibility we have to the communities we serve,” Householder concluded.

Florida Public Utilities Company is a wholly-owned subsidiary of Chesapeake Utilities Corporation. Chesapeake Utilities Corporation (NYSE: CPK) is a diversified utility company engaged in natural gas distribution, transmission and marketing, electric distribution, propane gas distribution and wholesale marketing, advanced information services and other related services. Information about Chesapeake’s businesses is available at www.chpk.com.

For more information, contact Florida Public Utilities Company’s Northwest Division at 850.526.6800 or email nwflorida@fpuc.com.

 

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