WF Power residential rates to rise twice
Chief Financial Officer Aileen Staples had warned the mayor and town commissioners – and town residents who use Wake Forest Power – that the residential power rates had to be adjusted upward back during the town board retreat in January. She had mentioned increases of 6 percent. Therefore, the shock was not total Tuesday night when Staples said the residential rates will have to be adjusted upward by a total of 19 percent – increases of 9.5 percent in both April and September –to cover the increased costs the town’s electric department faces in equipment and manpower. For a home using an average of 935 kWh per month that now is paying $126.87 a month or $1,522.42 a year will pay $136.55 a month or $1,638.55 a year in April and $147.14 a month or $1,765.71 a year in September. The individual bills also include a $25 basic customer charge.