Local News

PSNC Wants Rate Hike

Posted March 31, 2008 5:51 p.m. EDT
Updated March 31, 2008 5:54 p.m. EDT

PSNC Energy applied to the North Carolina Utilities Commission Monday for a rate increase of 2.99 percent, totaling approximately $20.4 million.

The rate hike would cost the average residential customer $2.98 more per month.

The company is seeking the rate increase to pay for upgrades and expansions of gas delivery in the state. According to a statement, the company has installed more than 900 miles of transmission and distribution mains and added nearly 32,000 customers to its system since it last raised rates in 2006.

The commission is not expected to rule on the rate hike until fall.