Local News

Natural Gas Prices to Increase

Posted June 27, 2007 3:16 p.m. EDT

— Natural gas prices for PSNC Energy customers will go up next month, officials said Wednesday.

The North Carolina Utilities Commission approved PSNC Energy’s request to increase the purchased gas component of its rates. The approval will mean an increase of about 11 percent for residential customers, taking the residential rate from $1.18 to $1.31 per therm.

PSNC Energy officials said the utility hasn't raised its “cost of gas” since November 2005 and had cut that component of its charges in January. Rising wholesale prices for natural gas have resulted in the company’s need to adjust its rates, the company said.