Florida Power & Light Company and Gulf Power Company have integrated and are now doing business as Florida Power & Light Company in Northwest Florida.
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“This is an exciting day for everyone at FPL and Gulf Power, as well as the 5.6 million customers we serve across Florida from Miami to Pensacola, as we expand to Northwest Florida America’s best energy value – electricity that’s not just clean and reliable, but also affordable. Customers in Northwest Florida will benefit from increasingly more affordable electric bills as part of the company’s approved four-year rate plan,” said Eric Silagy, president and CEO of FPL. “Since the acquisition of Gulf Power in 2019, our team has worked tirelessly to identify and implement productivity improvements and integrate the two companies, improving reliability roughly 50% and reducing the carbon dioxide emissions rate nearly 30% in just three years. Today’s milestone is the next step in continuing to build a more resilient and sustainable energy future all of us can depend on, including future generations.”
Productivity improvements at Gulf Power since its acquisition by NextEra Energy, FPL’s parent company, are expected to reduce annual operations and maintenance expenses in 2022 by $86 million which, on a scale-adjusted basis, is the equivalent of saving nearly $1 billion at FPL. FPL also projects long-term combined system benefits of approximately $1.5 billion as a result of power generation upgrades already underway, a new transmission line physically connecting both utility systems and the ability to dispatch from, and plan for, a common fleet of power generation resources. In total, combining the two companies and operating as a single utility system is projected to save customers more than $2.8 billion over the lifetime of these assets.
FPL will rebrand Gulf Power office buildings, trucks and uniforms with the FPL logo over the coming months. During this transition period, customers may see employee uniforms and vehicles with either the FPL logo or Gulf Power logo.
“While the logo on our bucket trucks and office buildings is changing, our steadfast commitment to Northwest Florida will remain as strong as ever,” Silagy said. “The FPL team remains proud to continue to call you our neighbors and remain in Northwest Florida to serve you.”