The Company’s filings mark the second such request in as many months. In December, the Company requested and received approval to reduce its sales rates for customers in both states effective January 1 as a result of declining wholesale natural gas costs which Piedmont passes through to customers on a dollar for dollar basis.
Today’s filings before both the North Carolina Utilities Commission and the Public Service Commission of South Carolina reflect additional declines in the Company’s wholesale natural gas costs.
If approved by the respective commissions, the new rates would go into effect on February 1 with residential customers seeing a reduction of about 3% from January rates and about 8% since the start of the winter period. The average residential customer in North Carolina and South Carolina would save $10 to $15 over the remaining winter months of February, and March.
