North Carolina’s largest power company is seeking a rate increase of 6.7 percent for its residential customers in the central and western part of the state as part of a rate case filed recently with the North Carolina Utilities Commission.
The proposed 6.7 percent increase would mean that residential customers who use 1,000 kilowatt hours of electricity each month would pay an extra $8.06 per month, bringing their average electric bill to $116.26 per month.
This proposed rate increase for residential customers is larger than the approximate 5 percent increase this big power company is requesting of commercial and industrial customers, putting additional burden on families whose budgets are already stretched thin. The big power company asks for a decision on its filing no later than August 1, 2020.
Why is the rate increase needed?
The big power company wants this additional $290 million per year to recoup expenses for coal-ash cleanup, grid improvements and storm repairs. This proposed increase also comes on top of a rate increase that took effect last year that is expected to raise residential rates for those in western and central North Carolina by 1.2 percent over four years.
The big power company’s subsidiary serving eastern North Carolina anticipates filing its own rate request by the end of October, meaning that customers in that territory could be seeing their own rate increases soon.
Stand up to the big power company by going solar
If you’re tired of paying for rate increases imposed by the big power company, adding solar with help from POWERHOME Solar is a way of insulating yourself from bearing the full burden of those increases. When your home is energized by solar panels, the power your panels create lowers your electric bill, meaning that you pay the power company less for their power.
And by owning the power from your solar panels, you are generating carbon-free energy, which stands in contrast to the dirty, fossil-fueled sources of coal and natural gas that produce carbon emissions linked to climate change. While the big power companies are changing to using cleaner sources of energy, they can’t change faster than you can go solar at your home.
If you’re intent on lowering your carbon footprint and standing up to the big power company for raising rates to cover its costs of business, solar power may be the right choice for you. Call us at 800-765-2715 to see if your home qualifies.