This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Piedmont Natural Gas Files For Reduction In Natural Gas Rates In North Carolina And South Carolina

CHARLOTTE, N.C., Jan. 17, 2013 /PRNewswire/ -- 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.

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 51,600 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 intrastate natural gas transportation businesses. More information about Piedmont Natural Gas is available on the Internet at http://www.piedmontng.com.

 

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,630.27 +189.68 1.09%
S&P 500 2,093.25 +25.61 1.24%
NASDAQ 5,089.2060 +49.43 0.98%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs