CHARLOTTE, N.C., May 18, 2015 /PRNewswire/ -- Piedmont Natural
Gas (NYSE: PNY) has filed for an upward adjustment in its
natural gas sales rates for customers in North Carolina.
Piedmont's request, filed before
the North Carolina Utilities Commission, more closely reflects the
Company's current wholesale cost of natural gas and, if approved by
the commission, would go into effect on June
1, 2015. The Company's wholesale costs of natural gas,
which can fluctuate up or down, are embedded in its retail sales
rates and are passed through to customers on a dollar for dollar
basis.
For the typical Piedmont Natural Gas residential customer in
North Carolina, the impact of the
upward adjustment will be slight: over the remaining summer period
of June through October, residential customers in North Carolina can expect to see a total
increase of approximately $5 - $6, or
just over $1 per month.
While the Company's proposed adjustment will result in a slight
increase in customer's monthly natural gas bills, its wholesale
cost of natural gas and overall retail sales rates remain at
historically low levels. The low wholesale cost of natural
gas is being driven by the availability of plentiful supplies of
natural gas as a result of significant increases in natural gas
production from shale gas deposits.
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