CHARLOTTE,
N.C., April 17, 2013
/PRNewswire/ -- Piedmont Natural Gas (NYSE: PNY) today
announced it has filed to adjust upward the wholesale natural gas
cost component of its rates for customers in North Carolina and South Carolina. Wholesale
natural gas costs are passed through to customers on a dollar for
dollar basis, without markup, and reflect what Piedmont actually pays for the natural gas
supplies it delivers to customers.
If approved by the respective state utility commissions,
the new rates would be effective May 1,
2013 and would result in residential billing rates that
still range between 28 percent and 38 percent less than those in
effect 5 years ago in 2008. Piedmont last requested an adjustment to its
wholesale natural gas cost component in February, 2013, when it
filed for a reduction in both states.
For the average residential customer of Piedmont Natural
Gas in North Carolina and
South Carolina, the proposed rates
would increase their monthly natural gas bill by approximately
$3.50 to $4.75 per month over the
coming summer period of May through
October.
About Piedmont Natural Gas
Piedmont Natural Gas is an energy services company
primarily engaged in the distribution of natural gas to more than
one million residential, commercial, industrial and power
generation utility customers in portions of North Carolina, South Carolina and Tennessee, including 52,400 customers
served by municipalities who are wholesale customers. Our
subsidiaries are invested in joint venture, energy-related
businesses, including unregulated retail natural gas marketing, and
regulated interstate natural gas transportation and storage and
intrastate natural gas transportation businesses. More information
about Piedmont Natural Gas is available on the Internet at
http://www.piedmontng.com/.
SOURCE Piedmont Natural Gas