CHARLOTTE, N.C., Feb. 13, 2015 /PRNewswire/ -- Piedmont Natural
Gas (NYSE: PNY) today filed to further reduce its natural gas
sales rates for customers in North
Carolina and South
Carolina. The Company's filings mark the third such request
in as many months. Piedmont previously requested and received
approval in both December and January to reduce its sales rates for
customers in the two states as a result of declining wholesale
natural gas costs which Piedmont
passes through to customers on a dollar for dollar basis.
If approved, today's filings before both the North Carolina
Utilities Commission and the Public Service Commission of
South Carolina would result in
natural gas sales rates that are the lowest in more than a decade
in each state. The proposed rates reflect further declines in the
Company's wholesale natural gas costs and would go into effect
March 1.
For the average residential customer of Piedmont Natural Gas in
North Carolina or South Carolina, the proposed reduction in the
natural gas sales rate would result in a savings of approximately
$10 to $12 on their March natural gas
bill. If approved, the new rates would reflect a decrease of
approximately 22% to 24% in residential natural gas sales rates
since the start of the winter billing period in November.
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 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
regulated intrastate natural gas transportation businesses. More
information about Piedmont Natural Gas is available on the Internet
at http://www.piedmontng.com/.
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SOURCE Piedmont Natural Gas