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Progress Energy Rate Change

March 17th, 2009 by Mike Vasilinda

Progress Energy customers will see some rate relief beginning with their April bills. In January, rates spiked by as much as 25 dollars for a thousand kilowatts. The increase was to cover increased fuel costs and the building of two new nuclear power plants. After public outrage, the company went to the state Public Service Commission today and asked for rates to decrease. PSC spokesperson Cynthia Muir says customers will see a fifteen dollar saving beginning in April.

Progress does have a significant increase in their rates beginning on the first of the year, about a 24 percent increase in their rates,” Muir said. “The commission did hear a lot of complaints regarding that.”

Progress is the first company to take advantage of a 2006 law that allows companies to collect nuclear construction costs up front before a plant is ever built. Consumer advocates have been arguing that many customers will have moved or have died before the plant is finished.

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