Local News

Utilities commission approves PSNC rate decrease

Posted September 30, 2008 9:12 p.m. EDT
Updated October 1, 2008 8:46 a.m. EDT

State regulators have approved a 14 percent rate decrease for PSNC Energy customers, N.C. Utilities Commission officials confirmed Tuesday.

The decrease for residential customers will begin Wednesday.

The News & Observer of Raleigh reported the typical homeowner would save about $24 a month.

In May and June, PSNC sought – and got – approval for two rate hikes, amounting to a 31 percent increase – or about $40 extra on the average bill during the winter months. PSNC said the raises then were necessary to pass the rising cost of natural gas onto costumers.

Natural gas companies can ask the commission to adjust rates monthly.