PSNC rate cut approved
Posted February 23, 2009 6:36 p.m. EST
Raleigh, N.C. — The state Utilities Commission on Monday approved a 6.4 percent cut to the natural gas rates charged by PSNC Energy.
The "cost of gas" component that was reduced is part of gas bills passed along to consumers at no mark-up. When changes are made to the "cost of gas," those savings or increases are passed directly on to customers.
The rate cut, which takes effect March 1, amounts to about a $7-per-month savings for the typical residential customer.
PSNC has lowered rates twice already in 2009. A 14 percent rate cut took effect Jan. 1, and a 10 percent decrease took effect Feb. 1.