Gastonia, N.C. — PSNC Energy said Friday that the North Carolina Utilities Commission has approved an increase to the purchased gas component of the company’s retail natural gas rates, effective next Tuesday.

The increase will raise the company’s residential rate by 8 percent, from about 96 cents to $1.04 per therm. PSNC said the increase will raise the average customer's monthly bill by $7.11.

PSNC officials said the company hasn’t increased its “cost of gas” component since March 2010 and that the company doesn't earn a profit on the component. All adjustments are passed directly to customers under state regulations, they said.