Benson residents will enjoy lower electric rates starting soon. The Benson Town Board voted unanimously this week to reduce electric rates by 8 percent for all municipal electric customers beginning on December 1st.
The average customer will realize a savings of about $150 per year from the lower rate, according to Benson Town Manager Matt Zapp.
The rate cut was made after Duke Energy Progress and the North Carolina Eastern Municipal Power Agency (NCEMPA) completed a $1.25 billion sale of NCEMPA’s generating assets to Duke Energy Progress. The asset merger was finalized on July 31, 2015.
As a result of the merger, the Town of Benson will realize a reduction in its local wholesale power bill in excess of $500,000 per year.
“The Town of Benson is extremely pleased to lower electric rates for our customers,” said Mayor William W. Massengill, Jr. “Our Board and staff have worked very hard to get us to this point. The economic impact of this decision will be felt across the community. Lower power bills in Benson will help residents and businesses alike.”
The Town of Benson contracted with Booth & Associates to complete a comprehensive Cost of Services study for the electric system.
As an example of how these lower electric rates will positively impact Town of Benson electric customers, currently a customer who uses 1,000 kwh per month is now paying $138.58. Starting December 1st, the same bill will be lowered by $11.88 per month (to $126.70) and save a customer $143 on average a year. A 2,000 kwh per month customer would see a rate reduction around $22.38 a month or about $268 a year.
