Piedmont Natural Gas Projects Lower Winter Heating Costs for 2010-2011 Season

Residential customers in Company's three-state service area could see reductions ranging from 5 percent to 25 percent from previous winter bills

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Piedmont Natural Gas

Oct 04, 2010, 01:57 ET

CHARLOTTE, N.C., Oct. 4 /PRNewswire/ -- Piedmont Natural Gas (NYSE: PNY) today announced its annual forecast of winter heating costs for customers in North Carolina, South Carolina and Tennessee. This year's forecast, reflecting declines in the wholesale cost of natural gas and assuming normal winter temperatures, projects that Piedmont's residential customers could see reductions in their overall winter heating costs ranging from 5 percent to as much as 25 percent.

In North Carolina and South Carolina, Piedmont projects residential customers could see reductions of approximately 20 percent to 25 percent in their winter heating bill. For the average residential customer, that would amount to savings of approximately $30 - $35 per month during the winter period of November through March. Last year's winter temperatures across Piedmont's North Carolina and South Carolina service areas were approximately 11 percent to 14 percent colder than normal.

In Tennessee, Piedmont projects residential customers could see reductions of approximately 5 percent in their winter heating bill. For the average residential customer, that would amount to savings of approximately $5 - $6 per month. Last year's winter temperatures in Piedmont's Tennessee service area were approximately 12 percent colder than normal.

Piedmont Natural Gas Chairman, President, and CEO Thomas E. Skains commented on the projection, "This year's forecast is certainly very good news for our customers, particularly in light of current economic conditions and the challenges many of our customers face." Commenting further, Mr. Skains said, "Even with these projected reductions, we know that many individuals and families within the communities we serve will need assistance in meeting their home energy needs throughout the coming year. One of the ways we can all help is through Piedmont's Share the Warmth Round Up Program where our customers can sign up to have their monthly natural gas bills rounded up to the nearest dollar. The amount rounded up goes to provide emergency energy assistance funds, regardless of the energy source that is used in the home or the time of year in which the need occurs, to individuals and families within the communities Piedmont serves."

For those customers who want to learn more about the Share the Warmth Round Up Program or to enroll in the program, they are encouraged to visit Piedmont's website at www.piedmontng.com.

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 and industrial utility customers in North Carolina, South Carolina and Tennessee, including 52,000 customers served by municipalities who are wholesale customers. Our subsidiaries are invested in joint venture, energy-related businesses, including unregulated retail natural gas marketing, interstate natural gas storage and intrastate natural gas transportation. More information about Piedmont Natural Gas is available at http://www.piedmontng.com/.

SOURCE Piedmont Natural Gas