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Progress Energy asks for 12 percent rate increase approval

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TWC News: Progress Energy asks for 12 percent rate increase approval
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Progress Energy customers may soon be paying more for their energy bills.

Officials said the company is asking the State Utilities Commission to approve a 12 percent rate increase.

They said most of the request will be used to make investments to modernize their power system.

This is the second rate increase since 1987 and the first general rate request in 25 years.

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