The Public Utility Commission has approved a settlement reducing the rate increase request of Peoples Natural Gas by more than 40 percent. Under the agreement, Peoples would get an eleven percent increase instead of the nearly nineteen percent increase it had sought, reducing its revenue enhancement from $156 million to $93 million.
As part of the terms, Peoples’ PGD and PBGD divisions would merge and their rates would be adjusted to equalize them. That means PGD residential customers will see a 1.2 percent decrease in their bills, while the rate paid by PNGD’s customers will go up 11.9 percent. Low-income customers will also be see additional benefits from the settlement, which was approved on a 5-0 vote.
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