March 14, 2012 – The cost of electricity will once again be reduced for customers of Florida Public Utilities Company (FPU). For the third time in just over a year, FPU will lower rates in its Northwest Division service area. The Florida Public Service Commission approved the rate reduction last week. Consumer savings from the new rates will begin in April 2012.

FPU’s latest rate reduction will decrease the cost of 1,000 kilowatt hours of electricity for residential customers by approximately 3.3%. This rate decrease follows previous reductions of approximately 3% in January 2011 and 10% in July 2011. In total, an average residential customer (1,000 kWh) will realize a savings of over $20 per month compared to their 2010 cost of electricity. Commercial customers will receive similar cost reductions

“When I took the FPU job in June 2010, I promised we would do everything possible to bring down the cost of electricity,” said Jeff Householder, FPU President. “I am very pleased that we have been able to keep that promise. For years FPU was one of the lowest cost electric providers in the state. It’s great to see our rates coming back into line with other electric providers in the area. I am confident that we will be able to pass on additional cost savings in the future.”

Householder went on to say, I really appreciate the patience and support from our customers as we worked to lower rates. Our Northwest Division employees are committed to keeping our operating costs and rates down while continuing to invest in system and storm hardening improvements that maintain our high levels of service reliability.  We’ve been providing electric service in Northwest Florida for over 75 years and we understand that service impacts people’s lives.  We take very seriously the responsibility we have to the communities we serve.”

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 [email protected].

 

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