Electric Bills to Rise 6 Percent

By Nick G. Maheras, High Point Enterprise, N.C.

Jan. 17–HIGH POINT — If you’re a city of High Point electric customer, you’ll be paying an average of 6 percent more beginning in February, and city leaders aren’t sure where the ceiling on future increases may be.

High Point City Council voted 8-1 Tuesday to increase electric rates 6 percent for the first billing cycle in February for all residential, commercial and industrial customers. Councilman Mike Pugh voted against the rate hike.

“This is the minimum we can do right now and stay in a positive cash position,” said Councilman Latimer Alexander. “Citizens need to know there will be future rate increases.”

With the6 percent increase,there’s a possibility that another hike could come in July or later this year. The increase has become necessary because of the sharply rising cost of providing electric service.

Contributing to the necessity of a rate increase have been dramatic hikes in the cost of materials such as copper wire and transformers, as well as consistent increases in the wholesale cost of electricity.

nmaheras@hpe.com|888-3534

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Businesses brace for extra cost. 6D

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Copyright (c) 2007, High Point Enterprise, N.C.

Distributed by McClatchy-Tribune Business News.

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