Electric deal could lower rates

“We would not even entertain this if we didn’t think it would lower rates.”

Rich Olson
Elizabeth City city manager

By Jon Hawley

The Daily Advance

2 Comments | Leave a Comment

In a historic move aimed at lowering utility rates across eastern North Carolina — including in Elizabeth City, Edenton and Hertford — Electricities is entering exclusive talks with Duke Energy Progress to sell the N.C. Eastern Municipal Power Agency’s shares in four power plants.

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You must be joking. Dept will not go away, and must be paid. Rates cannot go down.

Selling it off

If you sell off what's incurring the debt, you have less to pay off, which lowers what is charged to the end users.

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