RALEIGH -- North Carolina regulators have approved significant natural gas rate reductions for PSNC Energy and Piedmont Natural Gas.
The North Carolina Utilities Commission on Tuesday cut PSNC's residential rate by 14 percent and Piedmont's by about 16 percent, effective Wednesday.
The News & Observer of Raleigh reported the two companies asked for the decrease because natural gas prices have fallen in recent months. Even with the decrease, both utilities' rates will be higher this October than they were a year ago.
The two utilities serve nearly 1.2 million customers in North Carolina.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
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NC regulators approve natural gas rate cutsSubmitted by WWAY on Wed, 10/01/2008 - 12:18pm.READ MORE:
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