Business Briefs

Progress Energy seeks slight cut in electric rates

Posted June 4, 2012 2:33 p.m. EDT

— Progress Energy on Monday asked North Carolina regulators for permission to cut different segments of customers' electric bills.

One filing seeks to lower the portion of customer bills that pays for fuels used to generate electricity, while a second requests a slight decrease in the monthly customer charge to pay for adding renewable and alternative energy, as required under state law. The third filing seeks to raise the portion of bills used to pay for expanded energy-efficiency and demand-side management programs.

The net effect of the three filings, if approved by the North Carolina Utilities Commission, would lower the monthly bill of an average residential customer by 66 cents, the utility said.

Progress Energy said in a statement that these filings are the third time in four years the company has requested a rate reduction.