Published Jan. 17, 2013
Piedmont Natural Gas said it filed a request with state regulators to reduce its natural gas rates in North Carolina and South Carolina by up to 9.5%.
The new rates, if approved by the respective state commissions, would go into effect Feb. 1 and would reduce current residential natural gas rates by a range of approximately 7.5% to 9.5%.
Piedmont's request to lower its rates comes in response to continuing moderation in wholesale natural gas costs. Since 2008, the wholesale cost of natural gas has been driven lower as a result of increased natural gas production from domestic shale gas supply resources, the company said.
Piedmont Natural serves more than 1 million residential, commercial, industrial and power generation utility customers in portions of North Carolina, South Carolina and Tennessee.