Piedmont Natural Gas 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.
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