New Electric Rates Approved

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March 26, 2008

           
The PWC Board has approved new electric rates beginning with bills sent out on or after May 1, 2008. 

PWC expects additional expenses of $10.4 million in the upcoming budget year.  The increases will come from the increase in transmission costs, rising costs associated with PWC's existing power supply contract and the end of the savings that were realized with PWC's pre-pay power supply agreement with Progress Energy.  Rate increases will cover approximately $5.5 million of the anticipated expenses and operational cost reductions will fund the remaining $5 million.

PWC's residential and commercial electric rates remain the lowest of the Cumberland County electric providers and next to the lowest in the state.

A residential customer using 1000 kWh will see an increase  of  $2.60 a month ($84.65 to 87.25)  and if they use 1500 kWh, the increase will be $3.65 a month ($124.35 to $128.00)

New Residential Rate:
first 500 kWh:       $0.075    (was $0.0719)
Over 500 kWh:      $0.0815  (was $0.0794)
Basic Facilities Charge will remain $9.00

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