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Electricity rates likely to decrease

Posted on May 13, 2010 by Staff

Progress Energy plans to ask the N.C. Utilities Commission in June to lower electricity rates to reflect the falling cost of coal, natural gas and other fuels used in power plants.

The reduced rates would go into effect Dec. 1. Last week, the company filed a request to lower the fuel rate while increasing energy efficiency and management costs in South Carolina that would result in monthly savings of $1.64 for a residential customer using 1,000 kilowatt hours a month.

The company has not announced the amount it plans to lower rates in North Carolina.

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