CHARLOTTE, N.C., March 18, 2015 /PRNewswire/ -- Piedmont Natural
Gas (NYSE: PNY) today filed a request with the North Carolina
Utilities Commission (NCUC) for a one-time gas cost bill credit for
its retail sales and transportation customers in North
Carolina. The bill credit, if approved by the NCUC, would be
reflected on April bills and for the typical Piedmont Natural Gas
residential customer would amount to approximately $35, including a small adjustment associated with
applicable sales taxes.
Piedmont has requested and
received approval from the NCUC to reduce the wholesale commodity
cost of natural gas in its billing rates in each of the past three
months as a result of falling wholesale natural gas prices. The
proposed bill credits reflect further reductions in the wholesale
commodity cost of natural gas as well as lower transportation and
storage costs under third party pipeline capacity contracts.
Today's request by Piedmont for
a one-time bill credit rather than a prospective reduction in
billing rates would provide for a more immediate flow-through of
the Company's gas cost savings to its customers.
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, industrial and power generation utility
customers in portions of North
Carolina, South Carolina
and Tennessee, including customers
served by municipalities who are wholesale customers. Our
subsidiaries are invested in joint venture, energy-related
businesses, including unregulated retail natural gas marketing, and
regulated interstate natural gas transportation and storage, and
regulated intrastate natural gas transportation businesses. More
information about Piedmont Natural Gas is available on the Internet
at http://www.piedmontng.com/.
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SOURCE Piedmont Natural Gas