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ORDER NO. PSC -2020 -0154 -PCO -EI DOCKET NO. 20200001-E1 PAGE 8 effective with the June 2020 billing cycle, the residential charge for 1,000 kWh will return to $96.43. Concerning non-residential customers, typical bill reductions will range from approximately 24 to 30 percent for commercial customers, and approximately 53 percent for industrial customers.18 FPL's proposed tariff is contained in Attachment B, attached. FPL has provided notice of its request fora mid -course correction with its April customer bills, subject to our approval. For the reasons stated above, we hereby approve FPL's petition to reduce, for one month, its currently -approved 2020 fuel cost recovery factors for purposes of flowing back to customers a projected over -recovery of fuel charges during the month of May 2020. The tariffs shown on Attachment B are hereby approved effective May 1, 2020. Finally, Commission staff is hereby given administrative authority to approve tariffs effective June 1, 2020, reflecting the fuel factors approved in Order No. PSC-2019-0484-FOF-EI. Gulf Power Company Gulf participated in our most -recent fuel hearing which took place on November 5, 2019. The Fuel Order issued from the 2019.hearing set forth Gulf's fuel, purchased power, and capacity -related cost recovery factors effective with the first billing cycle of 2020.19 Mid -Course Correction With respect to the components of the mid -course correction calculation, which returns the total dollar amount used to calculate the proposed reduction, Gulf combined its final 2019 over -recovery of $8,868,596 with its estimated 2020 over -recovery of $42,404,427, resulting in a total estimated 2020 over -recovery of $51,273,023, or the total mid -course correction amount proposed to be flowed to customers. Gulf's fuel mid -course correction position following the calculation methodology in Rule 25-6.0424, F.A.C., is 14.7 percent. The projected 2020 over -recovery of fuel charges is specifically associated with a decline in projected fuel costs. Gulf's original projection of 2020 natural gas costs was formulated near the end of July 2019. At that time, Gulf projected the average cost of natural gas to be $3.39 per MMBtu. Gulf now projects, based on March 2020 data, the average 2020 cost of natural gas will be $2.57 per MMBtu (reduction of 24.2 percent). Gulf has proposed to flow its projected 2020 over -recovery of $51.3 million to customers through a bill credit in the month of May 2020. As part of the mid -course correction fling, Gulf updated its projections for purchased power and economy purchases due to the updated fuel pricing and input assumptions. Regarding capacity cost recovery, Gulf did not propose any changes to its currently -approved factors. 'Document No. 01868-2020. 19Order No. PSC-201.9-0484-FOF-EI.