RALEIGH (AP) ó 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 PSNCís residential rate by 14 percent and Piedmontís 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 utilitiesí rates will be higher this October than they were a year ago.
The two utilities serve nearly 1.2 million customers in North Carolina.
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Information from: The News & Observer, http://www.newsobserver.com