PSNC Energy announces rate increase

June 30, 2008 12:03:44 PM PDT
The North Carolina Utilities Commission has approved an increase to the purchased gas component of PSNC Energy's retail natural gas rates, effective with July bills. The increase will raise the company's current residential rate by 15 percent, taking it from approximately $1.50 per therm to approximately $1.72 per therm. This increase translates into a monthly increase of approximately $3.64 based on average natural gas use of 16 therms per month during the summer.

The adjustment is passed directly to customers in accordance with state regulations so that the company can recover its costs associated with purchasing the fuel.

PSNC Energy serves natural gas to approximately 458,000 customers in 96 cities and communities, including the Raleigh, Durham, and Chapel Hill areas.


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