N.C. customers to see an overall rate decrease of $7.80 per year
Recent increase in S.C. to be substantially lowered
CHARLOTTE, N.C. – Piedmont Natural Gas has filed requests with the utility commissions in North Carolina and South Carolina to decrease natural gas costs for customers in the two states.
Reducing the commodity charge for natural gas will more than offset a rate increase Piedmont recently requested to recover costs related to system growth, pipeline integrity management, infrastructure investments, and safety and security upgrades. Even with the requested rate increase, North Carolina customers will see a net decrease in the average residential customer’s bill by 13 cents per dekatherm or $7.80 per year.
In South Carolina, the requested decrease in the commodity price reduces by more than half a recent rate increase approved by the Public Service Commission of South Carolina. The approximate effect of this change on an average residential customer’s bill is a net rate increase of 41 cents per dekatherm, a yearly increase of about $23.
Piedmont’s bill has multiple rate components, one of which is the benchmark, or commodity, cost of natural gas. The requested decrease in the benchmark cost of natural gas from $2.75 per dekatherm to $2.25 per dekatherm in both states is expected to be effective in November 2019. Piedmont requests occasional benchmark rate adjustments to reflect changes in the commodity cost of natural gas because, by law, Piedmont must pass through to customers the actual commodity cost on a dollar-for-dollar basis.
Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers in North Carolina, South Carolina and Tennessee. The company also supplies natural gas to power plants. Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and has been named by Cogent Reports as one of the most trusted utility brands in the U.S.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers’ experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune’s 2019 “World’s Most Admired Companies” list, and Forbes’ 2019 “America’s Best Employers” list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy’s illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Jennifer Sharpe
Media line: 877.348.3612