- The company aims to recoup its investments in system reliability and improvements to support new and existing customers
- Requests include lower natural gas rates and income tax payment credits passed to customers
charlotte, north carolina, April 1, 2024 /PRNewswire/ — Following significant infrastructure investments in recent years to support the system’s continued reliability, safety and growth, Piedmont Natural Gas today filed a petition with the North Carolina Public Utilities Commission for base rate increases. I applied. If approved, piedmontese The requested rate adjustment will take effect when: November 2024.
Piedmont carefully incurred costs to comply with federal safety regulations, improve the customer experience, build the necessary infrastructure, and provide safe and reliable natural gas service to meet the energy needs of more than 810,000 customers. We aim to collect the. north carolina.
Piedmont It also requires concurrent reductions in natural gas costs and accelerated repatriation of eligible excess deferred income tax balances to customers, which will help reduce the overall impact on customer bills. This request means that the company’s revenue will increase by 11.7% overall in the first full year after the new rates take effect. Once the excess deferred income tax reduction expires, there will be an overall additional increase of approximately 0.8% after one year.
Piedmont requires periodic rate adjustments to reflect changes in the market price of the natural gas it purchases on behalf of its customers. By law, Piedmont We do not mark up the cost of natural gas and must provide customers with the actual cost, dollar for dollar. Wholesale market prices for natural gas are at their lowest levels in more than a decade. If this trend continues, Piedmont We will seek further reductions in natural gas pass-through costs in the coming months.
“At Piedmont, we work hard every day to avoid customer bill increases and keep costs as low as possible,” he said. Brian Weisker, Senior Vice President and President of Piedmont Natural Gas Company. “The investments we have made to strengthen and strengthen our natural gas distribution system will help ensure that we can meet the increased demand for natural gas from new and existing customers, while protecting our customers from unplanned outages. It’s helpful.”
Piedmont We provide 6 of in north carolina 10 most populous cities. The last general interest litigation is north carolina It was 2021.
“Many of these investments were necessary for us to operate safely in our communities, but we know that the price increases may make it difficult for some customers for whatever reason. ” Weisker said. ”Piedmont helps these customers by offering a variety of ways to manage their bills, including assistance programs, equal payment plans, and energy-saving tips and tools. ”
Equalize your bills with the Equal Payment Plan (EPP) program
piedmontese The free EPP program helps customers manage their budget by leveling their natural gas bills and helps them avoid unexpected bills with predictable, equal monthly payments. Piedmont determines this payment by totaling the customer’s annual natural gas usage and dividing it into equal monthly payments. Learn more about.
Energy saving tips and tools
Piedmont Natural Gas also offers a variety of energy conservation tips and tools to help customers and communities identify ways to save money and energy year-round. These programs and tools help customers understand the factors affecting their natural gas rates and highlight specific actions they can take to prepare for and mitigate the effects of increased usage.
Support for customers in trouble
Share the Warmth funds local agencies to help families with their energy bills, regardless of the energy source they use.Contact information for approved support agencies nationwide piedmontese Service areas are available at piedmontng.com/ShareTheWarmth.
The Low-Income Energy Assistance Program (LIEAP) helps customers pay for natural gas, electricity, and other energy sources for their homes.
Piedmont It said anyone in need should apply for this and other newly available programs to see if they qualify. For more information, visit piedmontng.com/AssistancePrograms.
piedmont natural gas
Piedmont Natural Gas, a subsidiary of Duke Energy, supplies natural gas to more than 1.2 million residential, commercial, industrial and power generation customers. north carolina, south carolina and tennessee. For the second year in a row, Piedmont Natural Gas has been ranked No. 1 in customer satisfaction for residential natural gas service in the South among major electric utilities, according to the company. JD Power 2023 US Gas Utility Residential Customer Satisfaction Survey. For more information: piedmonting.com. Follow Piedmont Natural Gas: twitter, Facebook.
Duke Energy (NYSE: DUK) is a Fortune 150 company headquartered in charlotte, north carolinais one of America’s largest energy holding companies. The company’s electric utilities serve 8.4 million customers. north carolina, south carolina, florida, Indiana, Ohio and kentucky, has a total energy capacity of 54,800 megawatts. The company’s natural gas division serves 1.7 million customers. north carolina, south carolina, tennessee, Ohio and kentucky.
Duke Energy is committed to achieving net-zero methane emissions from natural gas operations by 2030 and net-zero carbon dioxide emissions from electricity generation by 2050. We are delivering on an ambitious clean energy transition, keeping ease at the forefront. is investing in major power grid upgrades and clean power generation, including expanding energy storage, renewable energy, natural gas, and advanced nuclear power.
For more information, visit duke-energy.com and the Duke Energy News Center.Follow Duke Energy twitterLinkedIn, Instagram, Facebook, and Illumination to see more stories about the people and innovations driving the energy transition.
Media contact: Jason Wheatley
Media line: 877.348.3612
[email protected]
twitter: @PNG_JasonW
SOURCE Piedmont Natural Gas
