AC-T: Progress Energy agrees to smaller rate hike

Here’s an excerpt from the Asheville Citizen-Times article. See previous coverage by Xpess here.

Progress Energy agreed to reduce the rate hike it is seeking by about half, but those who work with low-income customers of the utility said even a smaller rate increase would be hard on already struggling families.

The state Utilities Commission is holding a series of hearings on the proposed rate increase. The next hearing will take place at 7 p.m. Tuesday at the Buncombe County Courthouse.

Progress has reached an agreement with the Utilities Commission Public Staff that calls for an average 4.7 percent increase across customer classes in the first year, and an additional 1 percent increase in the second year.

It’s not clear yet what the exact rate hike would be for residential customers.

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