Progress Energy Carolinas Files for Slight Rate Reduction in N.C.
The company is seeking to lower the fuel component in customer rates, and to adjust other components of the customer bill that reflect the cost of energy-efficiency programs and renewable energy resources. If approved as proposed, the changes would result in a net reduction in the price of electricity. For a household using 1,000 kilowatt-hours (kWh) a month, the total bill would go from the current
The reduction reflects the fact that global prices for energy have stabilized from the record highs of recent years. Each year, the N.C. Utilities Commission reviews Progress Energy Carolinas’ expenses for fuel (coal, natural gas, oil and uranium), as well as power purchased from other utilities to meet the needs of 1.25 million customers in
If approved, the new rate will take effect
“In these difficult economic times, we know every dollar counts, and we are very happy that we were able to meet our objective of minimizing rate impacts on our customers while keeping electricity reliable and affordable,” said
In addition to the fuel charge, today’s filings also include proposed changes to the portion of customer bills used to pay for new energy-efficiency and demand-side management programs as well as investments in renewable energy sources (including solar and biomass plants) to meet the requirements of the state’s energy law passed in 2007.
For the household using 1,000 kWh per month, the fuel portion of the bill will be reduced by
In 2008, the price of coal and natural gas increased significantly. Progress Energy Carolinas’ fuel purchasing practices shielded customers from the full impact of the higher costs. But the increases, coupled with an existing balance of about
Progress Energy has developed and implemented a number of energy-efficiency and demand-side management programs to appeal to customers with varying needs and lifestyles. This week, the company announced additional incentives for customers installing solar energy technologies on their homes and businesses. For more information on efficiency, visit www.savethewatts.com.
Progress Energy (NYSE: PGN), headquartered in
SOURCE Progress Energy Carolinas