CHARLOTTE — The North Carolina Utilities Commission has approved Piedmont Natural Gas’ initiative to reduce customer billing rates due to a decrease in the market cost of natural gas.
The decrease is expected to be reflected on customers’ bills in May of 2023.
The rate reduction will translate to a savings of approximately $2.37 per month, or $28.40 per year, for the average North Carolina residential customer, according to Piedmont.
Piedmont said it 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,” Senior Vice President and President of Piedmont Natural Gas Sasha Weintraub said. “Thanks to the downward trend in the cost of natural gas, we’re able to provide additional relief to customers.”
Piedmont said it 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 said. “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.”
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