Piedmont Natural Gas Files to Further Reduce Natural Gas Sales Rates in North Carolina and South Carolina

Proposed reductions reflect further declines in wholesale cost of natural gas

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Jan 16, 2015, 04:28 ET

CHARLOTTE, N.C., Jan. 16, 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 second such request in as many months. In December, the Company requested and received approval to reduce its sales rates for customers in both states effective January 1 as a result of declining wholesale natural gas costs which Piedmont passes through to customers on a dollar for dollar basis.

Today's filings before both the North Carolina Utilities Commission and the Public Service Commission of South Carolina reflect additional declines in the Company's wholesale natural gas costs.

If approved by the respective commissions, the new rates would go into effect on February 1 with residential customers seeing a reduction of about 3% from January rates and about 8% since the start of the winter period. The average residential customer in North Carolina and South Carolina would save $10 to $15 over the remaining winter months of 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/.

SOURCE Piedmont Natural Gas