Progress Energy wants 14 percent hike for NC homes - FOX Carolina 21

Progress Energy wants 14 percent hike for NC homes

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Power lines are connected to a power pole in Greenville. (File/FOX Carolina) Power lines are connected to a power pole in Greenville. (File/FOX Carolina)
CHARLOTTE, NC (AP) -

Progress Energy is asking North Carolina regulators to allow an increase in electricity rates that would raise the average home's power costs by almost $180 a year.

The subsidiary of Charlotte-based Duke Energy on Friday filed its request with the North Carolina Utilities Commission seeking to raise residential rates by an average 14 percent, and for commercial and industrial customers by 9 percent.

The company said it's the first time in a quarter century Progress Energy or its predecessors sought a general rate increase. The electric utility says it needs the money to recoup investments in modernizing power plants to reduce pollution.

The average Progress residential customer pays about $105 a month. That would increase to nearly $120 a month if the company's request is approved.

Copyright 2012 The Associated Press. All rights reserved.

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