Business

PSNC seeks third rate decrease of year

Posted February 18, 2009 2:27 p.m. EST

— PSNC Energy filed a request Wednesday with the North Carolina Utilities Commission to decrease the “cost of gas” component of its rates.

The "cost of gas" is part of gas bills passed along to consumers at no mark up. When changes are made to the "cost of gas," those savings or increases are passed directly on to customers.

PSNC has asked that the component price be reduced by 6.4 percent, or an average of $7 per month for the typical residential customer.

The utilities commission must approve the decrease before it can take effect.  The commission is expected to rule on the request Feb. 23. It would take effect March 1.

PSNC has lowered rates twice already in 2009. A 14 percent rate cut took effect Jan. 1; a 10 percent decrease took effect Feb. 1.