Local News

Residents, Businesses Oppose Progress Energy's Proposed Rate Hike

Posted August 2, 2005

— Progress Energy is requesting a 9 percent rate increase for residential customers and a 15 percent rate increase for its industrial customers.

Officials said the request is due to factors outside of their control such as the higher costs of fossil fuels. At Tuesday's meeting before the state Utilities Commission, some residents told commission members that the proposed rate increases would deeply affect their way of life.

"While this may seem like a small amount to some people, for others, it will mean the difference of buying clothes for their children and milk for their babies," said the Rev. Carrie Bolton.

"I'm here today asking that Progress Energy show some corporate morality and economic justice toward their customers," said rate payer Margie Ellison.

Industry representatives, who were also at the meeting, opposed Progress Energy's request. They argued that a hike in power rates will cost North Carolina jobs.

Progress Energy said it would spread out the rate increase to soften the blow over several years. More public meetings will be held to discuss the issue.

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