Time Warner Cable is pointing to rising electricity and gasoline costs as driving factors behind a rate hike at its Houston system.
The Houston division is raising the price of its basic-cable package 14%, from $13.60 to $15.50 monthly, according to the Houston Chronicle. Standard cable rises 3.4% from $40.99 to $42.39, and digital basic jumps 4.8%, or $2, to $43.99 monthly.
“The reality is that most businesses are feeling the pressure of increased costs of power and fuel,” Time Warner Houston spokesman Michael Bybee told the Chronicle. “Along with that, we continue to face significant increases in programming costs.”
Time Warner Cable corporate officials couldn’t be reached immediately for comment to determine if the MSO is raising rates on other cable systems due to rising fuel and electricity costs.