Carbon Power and Light is expecting a rate increase for its CP&L customers in 2014, the first time in five years.
“We haven’t had a rate increase for CP&L since 2009,” said General Manager for Carbon Power and Light Chuck Larsen. “We absorbed all of the increased cost of doing business up until now and we can no longer continue.”
Larsen said Carbon Power and Light tries to set rates so they are relevant for three to four years.
“We typically try to set our rates so they last three to four years,” Larsen said.
Carbon Power and Light and its rate consultant C.H. Guernsey began a cost of service study in September, Larsen said. The results from that study will determine the rate increase to customers.
Larsen said Carbon Power and Light anticipates having all data by December.
Larsen said hikes in wholesale energy costs, continued maintenance of infrastructure and other factors resulted in the increased rate.
“Everyone is faced with (increased costs of doing business) these days,” Larsen said.
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