CHARLOTTE, N.C., Oct. 18, 2019 /PRNewswire/ -- Piedmont Natural
Gas has filed requests with the utility commissions in North Carolina and South Carolina to decrease natural gas costs
for customers in the two states.
Reducing the commodity charge for natural gas will more than
offset a rate increase Piedmont
recently requested to recover costs related to system growth,
pipeline integrity management, infrastructure investments, and
safety and security upgrades. Even with the requested rate
increase, North Carolina customers
will see a net decrease in the average residential customer's bill
by 13 cents per dekatherm or
$7.80 per year.
In South Carolina, the
requested decrease in the commodity price reduces by more than half
a recent rate increase approved by the Public Service Commission of
South Carolina. The approximate
effect of this change on an average residential customer's bill is
a net rate increase of 41 cents per
dekatherm, a yearly increase of about $23.
Piedmont's bill has multiple
rate components, one of which is the benchmark, or commodity, cost
of natural gas. The requested decrease in the benchmark cost of
natural gas from $2.75 per dekatherm
to $2.25 per dekatherm in both states
is expected to be effective in November
2019. Piedmont requests
occasional benchmark rate adjustments to reflect changes in the
commodity cost of natural gas because, by law, Piedmont must pass through to customers the
actual commodity cost on a dollar-for-dollar basis.
Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, is an energy
services company whose principal business is the distribution of
natural gas to more than 1 million residential, commercial and
industrial customers in North
Carolina, South Carolina
and Tennessee. The company also
supplies natural gas to power plants. Piedmont is routinely recognized by J.D. Power
for excellent customer satisfaction, and has been named by Cogent
Reports as one of the most trusted utility brands in the
U.S.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in
Charlotte, N.C., is one of the
largest energy holding companies in the U.S. It employs 30,000
people and has an electric generating capacity of 51,000
megawatts through its regulated utilities, and 3,000 megawatts
through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience,
modernizing the energy grid, generating cleaner energy and
expanding natural gas infrastructure to create a smarter energy
future for the people and communities it serves.
Duke Energy was named to Fortune's 2019 "World's Most Admired
Companies" list, and Forbes' 2019 "America's Best Employers" list.
More information about the company is available at duke-energy.com.
The Duke Energy News Center contains news releases, fact
sheets, photos, videos and other materials. Duke Energy's
illumination features stories about people, innovations,
community topics and environmental issues. Follow Duke Energy on
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Facebook.
Media contact: Jennifer
Sharpe
Office: 704.731.4108 I Media line: 877.348.3612
jennifer.sharpe@duke-energy.com
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SOURCE Piedmont Natural Gas