PSNC gets 15 percent rate increase
Published: Mon, Jun. 30, 2008 11:38AM
Modified Mon, Jun. 30, 2008 11:41AM
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closeState regulators this morning approved a 15 percent rate increase for PSNC Energy. The change is effective Tuesday.
The increase will add $3.64 a month to a typical residential summer bill and $21.38 a month to a typical residential winter bill.
PSNC, the Trianble's natural gas utility, has a different summer and winter rate, and customers use about five times as much natural gas in the winter.
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About 40 percent of Triangle homes use natural gas to heat their homes in the winter.
PSNC officials said the utility needed the increase to pay for natural gas, which has increased about 70 percent in the past year. State law allows utilities to pass on fuel costs to customers, but the utilities can't make a profit on fuel purchases.
Today marks the second rate increase for PSNC in as many months. Last month, the N.C. Utilities Commission approved a 16 percent increase. The combined increases will add about $40 a month to the winter heating bill of a typical household that uses natural gas.
john.murawski@newsobserver.com or (919) 829-8932
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