Piedmont Natural Gas customers to see lower bills starting this month

Piedmont Natural Gas said on Monday residential customers in North Carolina will likely see their bill drop starting this month.

The utility said the rate reduction that went into effect June 1 is projected to lower the average residential customer bill by 4.35%, or about $54 annually.

All rate changes for N.C. customers are reviewed and approved by the state Utilities Commission.

PNG requests periodic rate adjustments to reflect fluctuations in the market price of the natural gas it purchases for its customers.

By state law, PNG does not mark up the cost of natural gas and must pass through the actual cost on a dollar-for-dollar basis to customers.

PNG also lowered its N.C. rates in January, February and April. Combined, the utility said the four rate decreases reduced customer bills by 8%, or about $100 per year.

PNG said residential customers will feel the full impact of the rate reduction beginning in July.

"We know rising costs are top of mind for our customers, and Piedmont actively looks for every opportunity to keep natural gas service as affordable as possible while continuing to provide the safe and reliable service our customers and communities depend on every day," PNG president Emily Henson said.

"As natural gas usage for heating increases later in the year, this proactive rate decrease will have tangible benefits to customer bills."

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