PSNC Energy gets approval for natural gas rate decrease
GASTONIA – PSNC Energy has received approval to lower its residential retail natural gas rate by 5 percent, taking the rate from $1 per therm to about 95 cents starting in September.
The company, which is a subsidiary of Scana Corp., announced Thursday that it received approval from the N.C. Utilities Commission for the decrease to the purchased gas component of its retail natural gas rates.
PSNC Energy does not earn a profit on the “cost of gas” component of its natural gas rates, according to a news release. The adjustment is passed directly to customers in accordance with state regulations so that the company can recover its costs associated with purchasing the fuel, the release states.
PSNC Energy, headquartered in Gastonia, is franchised to serve a 28-county service area in North Carolina. The utility distributes natural gas to about 495,000 customers in 96 cities and communities, including Raleigh, Durham, and Chapel Hill.