The decrease will be reflected beginning with customers’ May 2023 bills
Combined with earlier decreases in 2023, Piedmont has reduced average residential customers’ bills by $192 per year
Video here: Understand how your natural gas bill works and what factors influence your monthly bill
CHARLOTTE, N.C. – Piedmont Natural Gas has received approval from the North Carolina Utilities Commission to reduce customer billing rates due to a decrease in the market cost of natural gas. The decrease will be reflected beginning with customers’ May 2023 bills.
This rate reduction translates to a savings of approximately $2.37 per month, or $28.40 per year, for the average North Carolina residential customer. Piedmont previously decreased customer bills in North Carolina effective with customers’ February and March 2023 bills, for a total annual savings of approximately $192 for the average residential customer.
“Piedmont purchases natural gas at the best price possible, which benefits our customers,” said Sasha Weintraub, senior vice president and president of Piedmont Natural Gas. “Thanks to the downward trend in the cost of natural gas, we’re able to provide additional relief to customers.”
Piedmont requests periodic rate adjustments to reflect fluctuations in the market price of the natural gas it purchases for its customers. By law, Piedmont does not mark up the cost of natural gas and must pass through the actual cost on a dollar-for-dollar basis to customers.
“Even as costs continue to drop and we head into the warmer months of spring and summer, when natural gas bills tend to be lower because of decreased usage, it’s never a bad time for customers to take control of their natural gas bills,” Weintraub added. “We continue to encourage customers to enroll in our Equal Payment Plan to levelize their bills throughout the year and to implement energy-saving tips in their home. We also provide assistance programs year-round for customers who may continue to struggle with paying their bills.”
Level out your bill with the Equal Payment Plan (EPP) program
This free service helps customers manage their budgets by eliminating high winter bills. The EPP program levels out a customer’s natural gas bills, allowing them to pay a predictable, equal monthly amount to help avoid billing surprises. Piedmont determines this payment by adding up a customer’s annual natural gas usage and then dividing it into the same payment amount each month. Learn more here.
Assistance for customers in need
Piedmont regularly communicates with customers about the programs and assistance available to help them manage their bills. The winter bill resource page at piedmontng.com/WinterBills shares information about utility assistance administered by agencies in their state and local communities.
Share the Warmth provides funds to local agencies to assist families with their utility bills, no matter the source of energy they use.
The Low Income Energy Assistance Program (LIEAP) provides energy assistance to pay for natural gas, electric and other home energy methods. There are many customers who are eligible but do not apply for this annual federal benefit that can reduce energy costs for low-income families. Information on how to apply locally: thda.org/help-for-homeowners/energy-assistance-programs/low-income-home-energy-assistance-program-liheap.
Piedmont says anyone in need should apply for this and other newly available programs to see if they qualify. For detailed federal and state-specific information, go to piedmontng.com/WinterBills and click on your state.
Piedmont Natural Gas also offers a variety of energy-saving tools to help customers and our communities identify ways to save money and energy all year long. These programs and tools help customers understand what factors are impacting their natural gas bills and emphasize specific actions they can take to reduce the impacts of high usage.
Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, distributes natural gas to more than 1.1 million residential, commercial, industrial and power generation customers in North Carolina, South Carolina and Tennessee. Piedmont Natural Gas earned the No. 1 spot in customer satisfaction with residential natural gas service in the South among large utilities, according to the J.D. Power 2022 U.S. Gas Utility Residential Customer Satisfaction Study, and has been named by Cogent Reports as one of the most trusted utility brands in the U.S. More information: piedmontng.com. Follow Piedmont Natural Gas: Twitter, Facebook.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. Its electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 50,000 megawatts of energy capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 28,000 people.
Duke Energy is executing an aggressive clean energy transition to achieve its goals of net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company has interim carbon emission targets of at least 50% reduction from electric generation by 2030, 50% for Scope 2 and certain Scope 3 upstream and downstream emissions by 2035, and 80% from electric generation by 2040. In addition, the company is investing in major electric grid enhancements and energy storage, and exploring zero-emission power generation technologies such as hydrogen and advanced nuclear.
Duke Energy was named to Fortune’s 2022 “World’s Most Admired Companies” list and Forbes’ “World’s Best Employers” list. More information is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos and videos. Duke Energy’s illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.