The natural-gas provider will seek to raise rates by 0.11 percent to funds facility upgrades. That increase would add an estimated 28 cents to the average residential customer's monthly bill.
In March, PSNC had sought a 3 percent raise, which would add about $3 to the average bill. The Public Staff, the state's consumer advocate, opposed the increase.
The compromise must be approved by the North Carolina Utilities Commission, which will hold a hearing next Tuesday. The increase would go into effect Nov. 1.
Gastonia-based PSNC serves more than 450,000 natural gas customers in North Carolina. About 40 percent of its customers are in the Triangle.