Board approves new electric rates
Most customers to see small decrease in monthly bill On a split vote with Commissioners Brian Pate, Greg Harrington and Anne Reeve voting yes, Jim Thompson and Margaret Stinnett voting no, the Wake Forest Town Board Tuesday night approved new rates for all the town’s electric customers. The new rates will take effect in the September bills. The 6,043 residential customers will notice little difference. Under the old rates, they paid $130.69 for 1,000 kWh, $120.80 for the power and $9.89 for the basic charge covering system costs such as billing, depreciation, salaries, equipment and repairs. The September bill for the same amount of power will be $129.05, only $1.64 less than the August bill. The charge for power is $7.70 less, but the basic charge has been increased by $6.06 to $15.95. The small decreases in the rates are across the board – small commercial, large commercial, public schools