Progress Energy Asks Utilities Commission For Rate Increase
Posted June 3, 2005 1:48 a.m. EDT
RALEIGH, N.C. — Many North Carolina residents could soon be paying more for electricity.
Progress Energy asked the North Carolina Utilities Commission for a rate increase.
If approved, it would mean a 9 percent hike for residential customers, which is an average addition of $7.70 a month. It would boost the average monthly charge from about $87 to about $94.
Progress Energy said the increase is necessary because of "significant" fuel cost increases. If approved, it would take effect Oct. 1.