RALEIGH, N.C., June 4 /PRNewswire-FirstCall/ -- Progress Energy Carolinas' N.C. customers will pay slightly less for electricity under a proposal filed today with the N.C. Utilities Commission.

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The company is seeking to lower the fuel component in customer rates, and to adjust other components of the customer bill that reflect the cost of energy-efficiency programs and renewable energy resources. If approved as proposed, the changes would result in a net reduction in the price of electricity. For a household using 1,000 kilowatt-hours (kWh) a month, the total bill would go from the current $106.78 to $106.68.

The reduction reflects the fact that global prices for energy have stabilized from the record highs of recent years. Each year, the N.C. Utilities Commission reviews Progress Energy Carolinas' expenses for fuel (coal, natural gas, oil and uranium), as well as power purchased from other utilities to meet the needs of 1.25 million customers in North Carolina. The fuel component of the company's rates is adjusted to reflect the cost of fuel. By law, the company does not earn a profit on the fuel component in rates.

If approved, the new rate will take effect Dec. 1. As part of its review process, the Utilities Commission will conduct hearings on the proposed changes in September.

'In these difficult economic times, we know every dollar counts, and we are very happy that we were able to meet our objective of minimizing rate impacts on our customers while keeping electricity reliable and affordable,' said Lloyd Yates, president and CEO of Progress Energy Carolinas.