- Associated Press - Tuesday, September 1, 2015

NEW BERN, N.C. (AP) - Utility customers in New Bern are reaping the benefits of the sale of assets by the North Carolina Eastern Municipal Power Agency to Duke Energy Progress.

Local media outlets report those customers are getting a 12 percent rate reduction beginning Tuesday.

Last year, the Board of Aldermen instructed city staff to work toward reducing electric rates, which translated into a 3 percent retail electric rate reduction, which took effect July 1.

In conjunction with the sale, New Bern utility customers will see a total rate reduction of 15 percent on their bills compared to 2014.

NCEMPA’s assets were purchased for $1.25 billion in July, helping to reduce the utility’s membership debt by more than 70 percent. Among its 32 members, Greenville Utilities customers began seeing rate reductions on Aug. 1.

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