Piedmont Natural Gas Files for Reductions in Natural Gas Sales Rates in North Carolina and South Carolina

Proposed reductions would reduce Company's current residential billing rates by approximately 3% to 8%

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Dec 16, 2014, 08:44 ET

CHARLOTTE, N.C., Dec. 16, 2014 /PRNewswire/ -- Piedmont Natural Gas (NYSE: PNY) has filed for reductions in its natural gas sales rates for customers in North Carolina and South Carolina. Last week's filings before both the North Carolina Utilities Commission and the Public Service Commission of South Carolina reflect declines in the Company's wholesale natural gas costs, which are passed through to customers on a dollar for dollar basis.

If approved by the respective commissions, the new rates would go into effect on January 1, 2015 with most residential customers seeing a reduction in their natural gas billing rates of more than 5% from current rates and saving more than $5 per month over the remaining winter months of January, February, and March.

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