Progress Energy Rates Could Leap 16%
Saturday June 21, 2008 12:54 PM
http://www.newsobserver.com/front/story/1099481.html
"Progress Energy asked state regulators Friday to approve a whopper of a rate increase. The Raleigh electric utility wants to raise rates by 16.2 percent to pay for the soaring cost of fuel needed to operate power plants. It is the company's largest request for fuel costs in at least a quarter-century. The company is being hit by the same runup in worldwide energy costs that is driving up the cost of gasoline, diesel and natural gas. The Progress Energy rate increase would raise the typical monthly residential bill from about $97 to nearly $113 for a household that uses 1,000 kilowatt hours of electricity."
"Progress Energy asked state regulators Friday to approve a whopper of a rate increase. The Raleigh electric utility wants to raise rates by 16.2 percent to pay for the soaring cost of fuel needed to operate power plants. It is the company's largest request for fuel costs in at least a quarter-century. The company is being hit by the same runup in worldwide energy costs that is driving up the cost of gasoline, diesel and natural gas. The Progress Energy rate increase would raise the typical monthly residential bill from about $97 to nearly $113 for a household that uses 1,000 kilowatt hours of electricity."
