Selma Electrical Rate To Jump 8.1 Percent Next Month - Selma residents will be paying more for electricity next month. On Thursday, the Selma Town Council passed along an 8.14 percent wholesale cost increase to customers. The rate hike took effect on January 1, but the board delayed passing along the higher rate until February 1. Similar rate hikes were recently approved in Smithfield and Benson. Clayton’s wholesale electric rate jumped 9.8 percent on New Year’s. Clayton council members will meet in February to discuss how much of an increase will be passed onto business and residential customers.
Troy's comment: Funny how natural gas prices are dropping and electrical prices are going up. Many power plants use natural gas to power the steam turbines, and that price is dropping. Not electricity rates, though. Personally, I think incinerating trash would be a better source of fuel to generate electricity. It is sure a cheaper source of fuel. One problem that we have in Selma is that the state does not regulate our prices as it does with regular Progress Energy customers. A regulatory board gives the OK to a rate hike, so their customers don't get whacked every time they decide to raise prices, as they did with the town, who is a wholesale, not a residential customer. Bend over, grab ankles, wish for KY.