88.5 WFDD Web Archives
WFDD Archive
Main WFDD Website News Archives Triad Arts Archives Real People Archives Sports Commentary Archives Business Report Archives  

You are visiting the WFDD web archives.

Click here to return to our main website with the latest news from WFDD and NPR.

Search the WFDD archives
 

Progress Energy Requests Rate Hike

October 12, 2012 | Audrey Fannin

Progress Energy is asking North Carolina regulators to allow an increase in electricity rates.  The subsidiary of Charlotte-based Duke Energy filed its request with the North Carolina Utilities Commission Friday.  

The increase would cost the average home's power bills by almost $180 a year.  Progress wants to raise residential rates by an average 14 percent, and for commercial and industrial customers by 9 percent.  The average Progress residential customer pays about $105 a month.  If the new rate is approved, that would increase to nearly $120 a month.

The company said it's the first time in a quarter century that Progress Energy or its predecessors sought a general rate increase. The electric utility says it needs the money to recoup investments in modernizing power plants to reduce pollution. 


<< earlier stories later stories >>
<< November 2001 >>
Su M T W Th F Sa
    123
45678910
11121314151617
18192021222324
25262728293031

Show month: