CHARLOTTE, N.C., Oct. 27, 2014 /PRNewswire/ -- Piedmont Natural
Gas (NYSE: PNY) today received regulatory approval from the North
Carolina Utilities Commission (NCUC) for its affiliate agreements
with the Atlantic Coast Pipeline (ACP). Since Piedmont
Natural Gas is both a financial partner and a customer of the
proposed natural gas pipeline, Piedmont's affiliate agreements with ACP are
subject to NCUC approval. Today's approval of the agreements
represents a key step in the overall regulatory approval
process. Ultimate approval for the natural gas pipeline
project rests with the Federal Energy Regulatory Commission.
The proposed natural gas pipeline would transport natural gas
from the prolific Marcellus shale production region in West Virginia, Ohio and Pennsylvania, and deliver it through a
550-mile long natural gas pipeline constructed through parts of
West Virginia, Virginia, and North Carolina. The new
natural gas pipeline would be the second major interstate pipeline
serving the state of North
Carolina and is proposed to be in service by late 2018.
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 customers
in portions of North Carolina,
South Carolina and Tennessee, including customers served by
municipalities who are wholesale customers. Our subsidiaries are
invested in joint venture, energy-related businesses, including
unregulated retail natural gas marketing, regulated interstate
natural gas transportation and storage, and regulated intrastate
natural gas transportation businesses. More information about
Piedmont Natural Gas is available on the Internet at
http://www.piedmontng.com/.
Forward-Looking Statement
This press release contains forward-looking statements. These
statements are based on management's current expectations and
information currently available and are believed to be reasonable
and are made in good faith. However, the forward-looking statements
are subject to future events, risks, uncertainties and other
factors that could cause actual results to differ materially from
those projected in the statements. Factors that may make the actual
results differ from anticipated results include, but are not
limited to, weather conditions, rate of customer growth, the cost
and availability of natural gas, competition from other energy
providers, new legislation and regulations and application of
existing laws and regulations, economic and capital market
conditions, the cost and availability of labor and materials and
other uncertainties, all of which are difficult to predict and some
of which are beyond our control. For these reasons, you should not
place undue reliance on these forward-looking statements when
making investment decisions. The words, "projected," "would,"
"proposed" and variations of such words and similar expressions are
intended to identify forward-looking statements. Forward-looking
statements are only as of the date they are made and we do not
undertake any obligation to update publicly any forward-looking
statement, either as a result of new information, future events or
otherwise. More information about the risks and uncertainties
relating to these forward-looking statements may be found in
Piedmont's latest Forms 10-K and
10-Q filed with the SEC and available at the SEC's website at
www.sec.gov
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SOURCE Piedmont Natural Gas