Piedmont Natural Gas forecasts lower monthly winter bills for customers

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Sep 29, 2023, 12:38 ET

Piedmont estimates an average decrease of approximately $3 to $26 per month for the typical residential natural gas customer
Financial assistance and energy-saving tips and tools are available to help customers manage seasonal bills

CHARLOTTE, N.C., Sept. 29, 2023 /PRNewswire/ -- Piedmont Natural Gas today issued its annual winter bills forecast for the upcoming winter period. The company estimates that, depending on the state, its typical residential customer's monthly natural gas bill will decrease by an average of approximately $3 to $26 per month from November to March, or $16 to $131 total, when compared to rates in effect during the 2022-2023 winter period.

Piedmont purchases natural gas at the best possible price and then passes this cost directly to customers with no markup. The company closely monitors natural gas costs and requests adjustments to its rates throughout the year based on changing market conditions and other factors.

"The downward trend in the cost of natural gas is great news for Piedmont customers," said Sasha Weintraub, senior vice president and president of Piedmont Natural Gas. "In addition to the lower overall price of natural gas this season, Piedmont offers tips, tools and programs that can help lower natural gas bills."

With seasonal cold weather on the horizon, Piedmont is reminding customers that higher energy consumption related to colder temperatures is the largest contributor to increases in the average household's home-heating expenditures during the winter months. A video explaining the factors that contribute to customers' natural gas bills is available on Piedmont's website.

Low- to no-cost energy-saving tips and projects
Natural gas use typically spikes in the winter as customers combat low temperatures to stay warm. Below are tips to help manage your energy use when temperatures decline. B-roll of energy-efficiency measures is available here.

Learn how to reduce energy use. The first step to reduce energy use in your home is to identify and prioritize energy-saving improvements. This can be accomplished through a certified auditor or by performing your own energy audit.
Seal air ducts. Make sure the air ducts from your home's furnace and central air conditioner are properly sealed. Ducts that leak into the attic or crawl space can substantially increase your heating and cooling bills.
Seal your home. One of the quickest energy-saving tasks you can do is caulk, seal and weatherstrip all seams, cracks and openings to the outside. This can save 10% to 20% on your heating and cooling bills.
Install "smart" thermostats. Installing a smart or programmable thermostat will reduce your energy use while you are asleep or away. Set your thermostat to the lowest comfortable setting to help save.
Manage water heating. Set your water heater temperature to 120 degrees Fahrenheit or consider installing an on-demand or tankless water heater that only heats water when you need it.
Consider insulation. Consider whether you need to add insulation to your ceilings, floors and walls. Insulation between the indoors and outdoors reduces energy demand, saving you money while improving the comfort of your home.

Level out your bill with the Equal Payment Plan (EPP) program
This free service helps customers manage their budgets by eliminating high winter bills. The EPP program levels out a customer's natural gas bills, allowing them to pay a predictable, equal monthly amount to help avoid billing surprises. Piedmont determines this payment by adding up a customer's annual natural gas usage and then dividing it into the same payment amount each month. Learn more here. B-roll of Piedmont's billing options and EPP is available here.

Energy-saving tools
Piedmont Natural Gas also offers a variety of energy-saving tools to help customers and our communities identify ways to save money and energy all year long. These programs and tools help customers understand what factors are impacting their natural gas bills and emphasize specific actions they can take to prepare and reduce the impacts of high winter usage.

"We remain committed to helping our most vulnerable customers keep the heat on, whether that's being a resource for steps to take to lower their natural gas bill, or taking advantage of available assistance options," Weintraub added.

Assistance for customers in need
Share the Warmth provides funds to local agencies to assist families with their utility bills, no matter the source of energy they use.

The Low Income Energy Assistance Program (LIEAP) provides winter heating assistance to pay for natural gas, electric and other methods customers use to heat their homes. There are many customers who are eligible but do not apply for this annual federal benefit that can reduce winter heating costs for low-income families.

Piedmont says anyone in need should apply for this and other newly available programs to see if they qualify. For detailed federal and state-specific information, go to piedmontng.com/WinterBills and click on your state.

Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, distributes natural gas to more than 1.1 million residential, commercial, industrial and power generation customers in North Carolina, South Carolina and Tennessee. Piedmont Natural Gas earned the No. 1 spot in customer satisfaction with residential natural gas service in the South among large utilities, according to the J.D. Power 2022 U.S. Gas Utility Residential Customer Satisfaction Study, and has been named by Cogent Reports as one of the most trusted utility brands in the U.S. More information: piedmontng.com. Follow Piedmont Natural Gas: Twitter, Facebook.

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. Its electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 50,000 megawatts of energy capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 27,600 people.

Duke Energy is executing an aggressive clean energy transition to achieve its goals of net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company has interim carbon emission targets of at least 50% reduction from electric generation by 2030, 50% for Scope 2 and certain Scope 3 upstream and downstream emissions by 2035, and 80% from electric generation by 2040. In addition, the company is investing in major electric grid enhancements and energy storage, and exploring zero-emission power generation technologies such as hydrogen and advanced nuclear.

Duke Energy was named to Fortune's 2023 "World's Most Admired Companies" list and Forbes' "World's Best Employers" list. More information is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos and videos. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

Media contact: Jason Wheatley
Media Line: 877.348.3612
[email protected]
Twitter: @PNG_JasonW

SOURCE Piedmont Natural Gas