DUKE ENERGY CORPORATION CHARLOTTE, N.C., March 19, 2018 /PRNewswire/ -- On Friday, March 16, 2018, Piedmont Natural Gas filed a request with the North Carolina Utilities Commission for a decrease in customer billing rates that would reduce the average North Carolina residential customer's monthly bill by about 4 percent, or $2.51.
Pending the Commission's approval, the rate decrease would take effect April 1.
Piedmont is requesting this rate decrease in accordance with a rate mechanism approved by the Commission. Piedmont files a request to adjust its residential and commercial billing rates twice each year, on April 1 and November 1. This semiannual rate adjustment protects our customers and allows Piedmont to appropriately recover costs to operate its system reliably and safely.
If approved as requested, billing rates would decrease as follows by customer type:
- Residential service: $0.51 per dekatherm
- Small general service: $0.27 per dekatherm
- Medium general service: $0.24 per dekatherm
This semiannual rate adjustment is separate from occasional rate adjustments to reflect changes in the commodity price of the natural gas that Piedmont purchases for its customers. Piedmont's most recent change to its cost of gas was a decrease effective February 2018. By law, Piedmont is not allowed to mark up the cost of natural gas and must pass through the actual cost on a dollar-for-dollar basis.
About Piedmont Natural Gas
Piedmont Natural Gas, a North Carolina corporation, is an energy services company whose principal business is the distribution of natural gas to more than a million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee. Piedmont provides a foundation for establishing a broader strategic natural gas infrastructure platform within Duke Energy to supplement and complement the previous natural gas pipeline investments and the natural gas business located in the Midwest.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
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Media contact: Jennifer Sharpe
Office: 704.731.4108 I 24-hour: 877.348.3612
jennifer.sharpe@duke-energy.com
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SOURCE Piedmont Natural Gas
