PSNC Energy wants to cut its natural gas rates by 4 percent for residential customers in March. If approved, the request would it would mean a 17 percent drop from January's rates.
PSNC officals said the decision to lower rates was based on lower nationwide demand due to a warm winter. The cuts would bring the cost of the gas back down to what customers paid in August and September, and would average a $5 monthly reduction for the typical household bill.
The rate cuts would be the third reduction in as many months after all-time record high costs in November and December.
The rate reduction has to be approved by the N.C. Utilities Commission, which meets on Feb. 27. If approved, the cuts will go into effect March 1. PSNC has 430,000 customers statewide and 230,000 in the Triangle.
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