Piedmont Natural Gas has filed for a rate reduction for the third time in as many months.
The company's filings mark the third such request in as many months. Piedmont previously requested and received approval in both December and January to reduce its sales rates for customers in the two states as a result of declining wholesale natural gas costs which Piedmont passes through to customers on a dollar for dollar basis.
For the average residential customer of Piedmont Natural Gas in the Carolinas the proposed reduction in the natural gas sales rate would result in a savings of approximately $10 to $12 on their March natural gas bill. If approved, the new rates would reflect a decrease of approximately 22-24 percent in residential natural gas sales rates since the start of the winter billing period in November.
If approved, Friday’s filings before both the Public Service Commission of South Carolina and North Carolina Utilities Commission would result in natural gas sales rates that are the lowest in more than a decade in each state.
The proposed rates reflect further declines in the company's wholesale natural gas costs and would go into effect March 1.