Piedmont Natural Gas is planning on further reducing natural gas rates for its customers in North and South Carolina.
If the company’s filings are approved by state utilities commissions, the new rates will take effect on February 1. Customers will see about a three percent reduction from January rates and about an eight percent decrease from the start of the winter season.
According to company officials, the average residential customer in either state will save $10 to $15 over the remaining winter months.
This is the company’s second utilities commission filing.
In December 2014, Piedmont Natural Gas requested and received approval to reduce its customer’s sales rates in North and South Carolina effective on January 1, 2015. The company was allowed to do so as a result of decreasing wholesale natural gas costs, which the company passes through to its customers on a “dollar-to-dollar” basis.
Piedmont Natural Gas has filed the requests due to declines in the company’s wholesale gas costs. The filings are reviewed by the Public Service Commission of South Carolina and the North Carolina Utilities Commission.
Piedmont Natural Gas is based out of Charlotte, North Carolina and focuses mainly on the distribution of natural gas to more than one million residential, commercial, industrial and power generation utility customers. The company serves those located in South Carolina, North Carolina and Tennessee, along with customers served by municipalities who are wholesale customers.