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Progress Energy rates to go up in December

Posted November 15, 2011

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— Progress Energy customers will see higher electric bills starting next month, when the Raleigh-based utility will raise its residential rates by about 3.7 percent, officials said Tuesday.

The increase, which was recently approved by the state Utilities Commission, will raise the monthly bill of a residential customer using 1,000 kilowatt-hours by $3.81, officials said. Even with the increase, the average price is less than it was in 2008, they said, noting that Progress dropped its rates in each of the last two years.

“We know every dollar counts, particularly for our customers who are struggling in this difficult economy,” Lloyd Yates, chief executive and president of Progress Energy Carolinas, said in a statement. "We continue to focus on keeping electricity affordable, reliable and environmentally sound for the households and businesses that depend on us.”

The bill for a typical commercial customer will go up by 4 percent, and the increase for a typical industrial customer will be 3.4 percent.

The rate increase reflects higher costs of power plant fuel and energy-efficiency programs, officials said.

The fuel portion of the company’s rates is adjusted annually by the Utilities Commission to reflect the actual cost of fuel the utility uses to produce electricity to meet customer demand. By law, Progress Energy does not make a profit from the fuel charge.

The company also seeks every year to recover the costs of implementing programs designed to help reduce energy consumption and save customers money on their energy bills, as well as the portion in customer rates that pays for renewable energy investments.

Progress Energy serves 1.5 million customers, including 1.3 million in North Carolina.

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  • ronaldeldridge Nov 18, 2011

    As a person that lives on social security disability, this 3.7 increase makes me angry. Politicians are trying to cheat us out of a 3.5% cost of living raise and has not given us anything in the last 3 years. With the price of everything in neccessary commodities going up, a lot of us depend now on food pantries while corporations are rolling in the clover with profits in the billions. I worked hard all my life and paid a lot into Social Security for my retirement and disabilty. Just like any of you that have pensions.How would you like to be screwed out of your pensions? I dont see Social Security as an entitlement program. It is a retirement program that has benefited other programs with billions of dollars that we paid into social security. Progress Energy does not need nor deserve an increase in profits on the backs of citizens hard put to even find jobs and the Seniors who have a fixed income..

  • davidallgood3 Nov 16, 2011

    Just note. THe federal government is requiring that we have more solar and wind energy. It has been mandated. It cost more to generate power using solar and wind than it does to generate with nukes, so guess what. When the cost of manufacturing goes up then the price has to follow. Maybe we should call Uncle Sam. He is contributing to this.

  • bccrandall Nov 16, 2011

    Complain to PRogress Energy on Facebook and see the 3X5 card response you get!

  • bluemax4195 Nov 16, 2011

    Lloyd Yates, chief executive and president of Progress Energy Carolinas, said in a statement. "We continue to focus on keeping electricity affordable, reliable and environmentally sound for the households and businesses that depend on us.”

    I'll just be he does!!! Hmmm... wonder what his "bonus" will be this year?!!!!

  • coolwill43 Nov 16, 2011

    Correction, I am sure there will be a bond for some people to help with there utilities bill that the home owners will pay for out of property taxes. I may be wrong but I think I read that the utilities commissioner salary is paid by the electric company, and the gas company.

  • coolwill43 Nov 16, 2011

    Someone out there voted to pass a bond for affordable housing, I am there will be a bond for some people to help with there utilities bill that the home owners will pay for out of property taxes. I may be wrong but I think I read that the utilities commissioner salary is paid by the electric company, and the gas company.

  • Chloe93o Nov 16, 2011

    No one asked the customers if we wanted an increase in our electric bill.

  • CestLaVie Nov 16, 2011

    hp277: They don't want to save any money, and they most certainly don't want to do it with their own salaries & perks & bennies!

  • common_sense_plz Nov 15, 2011

    It is my opinion that Profit Energy is sliding money to whom ever runs the utilities commission. I guess we are supose to feel better because rates have dropped...b*u*l*l. Unless something is done with energy cost to make it more affordable people will begin to starve, because they will no longer be able to afford food, heat, and if you live in the city, they will cut your water off. This is what we are coming to just watch and see.

  • jrfergerson Nov 15, 2011

    Well Duke Energy promised a 18% increase in the rates after the merger. Duke Energy before the merger is putting in a 14% increase and Progress Energy is raising its rates 4% before the merger. Add that up it equals the 18% just so they can say after the merger they won't be raising rates. They do need to pas their own pockets don't they - ANOTHER TRUTH OF THE GREED THAT IS KILLING THIS COUNTRY.

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