Regulators approve utilities' rate cuts
Published: Wed, Oct. 01, 2008 12:30AM
Modified Wed, Oct. 01, 2008 06:08AM
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closeRALEIGH -- State regulators approved significant rate decreases for PSNC Energy and Piedmont Natural Gas. The N.C. Utilities Commission cut PSNC's residential rate by 14 percent and Piedmont's by about 16 percent, effective today. The ruling will reduce the typical household monthly bill of a PSNC customer by about $24 during the winter heating season.
PSNC and Piedmont asked for the decrease because natural gas prices have fallen in recent months. Even with the decrease, both utilities' rates will be higher this October than they were a year ago.
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Staff writer John Murawski; Staff writer Alan M. Wolf; Staff writer Sue Stock; Staff writer Jonathan B. Cox
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