Piedmont Nat Gas Reports Added $22.5M Investment in AGL Venture, Maintains 15% Stake in Venture

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Piedmont Natural Gas (NYSE: PNY) today announced an additional $22.5 million cash contribution to itsexisting investment in SouthStar Energy Services, a joint venture with AGLResources (NYSE: GAS). The additional investment, effective September 1,maintains Piedmont's 15 percent ownership level in SouthStar, which marketsand sells unregulated retail natural gas to customers in the southeasternUnited States, as well as Ohio, New York and Maryland. Simultaneous with the cash contribution by Piedmont, AGL Resources willcontribute to SouthStar the unregulated retail natural gas customer accountsand related assets it acquired from Nicor Inc. in December, 2011 and theunregulated retail natural gas customer accounts it acquired in a separatetransaction in June 2013, both in Illinois. The addition of this Illinois bookof business to SouthStar's market footprint will expand the retail energymarketer's customer base by approximately 108,000 customers.

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