CP&L files for fuel cost decrease in South Carolina customer rates

RALEIGH, N.C. Feb. 22, 2002 (PRNewswire) CP&L announced that the company’s South Carolina retail customers will see a decrease in their monthly bills as a result of decrease in South Carolina fuel cost recovery over the next 12-months.

CP&L filed a fuel cost decrease with the South Carolina Public Service Commission (SCPSC) totaling $1.9 million (0.4%) over the next 12-month period for South Carolina retail customers. As a result of the decrease, the average monthly bill for a residential customer using 1000 kilowatt hours (kWh) will decrease by .03 percent ($0.27) to $84.37.

“Our goal is to keep customer rates low and while providing the highest levels of reliability,” said Emerson Gower, CP&L Southern Region vice president. “Because of our diverse fuel mix, which includes nuclear, natural gas, coal, fuel oil and hydroelectric, we are able to keep our fuel costs low and are pleased to be able to reduce rates at this time.”

The SCPSC has scheduled a fuel hearing for March 20 in Columbia, SC. If approved, the changes will become effective April 1.

CP&L, a subsidiary of Progress Energy, provides electricity and related services to more than 1.2 million customers in North Carolina and South Carolina. The company is headquartered in Raleigh, N.C., and serves a territory encompassing over 33,000 miles including the cities of Raleigh, Wilmington, Fayetteville, and Asheville in North Carolina and Florence and Sumter in South Carolina.

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