Piedmont Natural Gas files for reduction in natural gas rates in North Carolina and South Carolina

Friday, January 18, 2013      
 
  • Piedmont's request to lower its rates comes in response to continuing moderation in wholesale natural gas costs - the costs that Piedmont pays for the natural gas it delivers to its customers.

Piedmont Natural Gas (NYSE: PNY) has filed to reduce its natural gas rates in North Carolina and South Carolina. The new rates, if approved by the respective state commissions, would go into effect on February 1, 2013 and would reduce current residential natural gas rates by a range of approximately 7.5 percent to 9.5 percent. The proposed rate reduction would also save the average Piedmont Natural Gas residential customer approximately $8 to $10 on their upcoming February natural gas bill.

Piedmont's request to lower its rates comes in response to continuing moderation in wholesale natural gas costs - the costs that Piedmont pays for the natural gas it delivers to its customers. Since 2008, the wholesale cost of natural gas has been driven dramatically lower as a result of increased natural gas production from domestic shale gas supply resources. For Piedmont's typical residential customer in North Carolina and South Carolina, the reduction in natural gas rates since 2008 has been between 30 percent and 40 percent. As a result, a normal February natural gas bill for a Piedmont Natural Gas residential customer in 2013 would be approximately $45 - $75 less than the same residential bill in 2008.


 

Article Tags

Piedmont Natural Gas United States North America Finance Shale Gas Unconventionals


This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More


Related News


Join 80,000 oil and gas professionals who receive our weekly newsletter.

You may unsubscribe at any time with one click.

Popular Headlines View all


Latest Opinion View all

Join 90,000 other oil and gas professionals

Network with others, build your profile, and receive the latest oil and gas news in your inbox. It's free!

Create profile

Time for a change? All jobs Jobs near you


About

OilVoice, established in 2002, is your leading source of upstream news, jobs and industry information.


Newsletter

Each week we send our weekly industry round-up. Why not try it? You may unsubscribe at any time.

Contact OilVoice

Milton Keynes
United Kingdom
Contact Us


Stay Connected


2016 © OilVoice  .  Privacy Policy  .  Terms of Service  .  Oil Careers  .  Advertise with us