Business

PSNC customers could see lower rates

Posted December 16, 2008 4:50 p.m. EST
Updated December 16, 2008 4:56 p.m. EST

— PSNC Energy has filed notice with the North Carolina Utilities Commission of the utility's plan to pass on cheaper gas costs to almost 300,000 Triangle-area customers.

By law, PSNC does not make a profit on the "cost of gas" portion of its price. When costs to the utility go down, that savings is passed directly to consumers.

The company said Tuesday that it was requesting a reduction of 14 percent for the winter residential rate -- from $1.43 per therm to $1.22 per therm.

The average residential customer would see a savings of approximately $19 per month, beginning with the January bill, the company said.

PSNC expects the utilities commission to approve the request at its Dec. 29 meeting.