State Utilities Commission Approves PSNC Rate Increase
Posted October 31, 2005 8:11 a.m. EST
RALEIGH, N.C. — North Carolina regulators have approved an 11 percent hike in natural gas rates for PSNC Energy, the company said Monday.
The rate increase, approved by the North Carolina Utility Commission, will drive up the average monthly bill for residential customers about $18 during the winter season, the company said.
"We are extremely concerned about our customers as we head into the winter heating season," PSNC Energy President Jerry Richardson said in a statement. "I cannot stress enough how important it is for folks to take steps to make their homes more energy efficient, to conserve on their usage and to call us sooner rather than later about payment issues."
PSNC Energy said it applied for the rate increase, effective for November bills, because of a rise in wholesale prices following hurricanes Katrina and Rita, which disrupted supply in the Gulf Coast region.
A subsidiary of SCANA Corp., PSNC Energy serves about 230,000 customers in the Triangle and about 405,000 statewide.