Piedmont Natural Gas Files to Reduce Customer Rates in North Carolina and South Carolina
Posted on: Monday, 15 December 2008, 09:31 CST
The benchmark reflects the wholesale cost of natural gas supplies purchased by the Company on behalf of its customers and can fluctuate up or down. The wholesale cost of gas represents the single largest portion of a residential or commercial customer's monthly natural gas bill, typically making up between 65 percent and 70 percent of the total bill. As a regulated natural gas distribution company, Piedmont Natural Gas is required to "true-up" or pass through the wholesale cost of gas to its customers on a dollar-for-dollar basis, without adding on any additional profit margin.
If approved by each of the respective state regulatory agencies,
Forward Looking Statement
This press release contains forward-looking statements. These statements
are based on management's current expectations and information currently
available and are believed to be reasonable and are made in good faith.
However, the forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially from those projected in
the statements. Factors that may make the actual results differ from
anticipated results include, but are not limited to, regulatory issues,
customer growth, economic and capital market conditions, the cost and
availability of natural gas, competition from other energy providers, weather
conditions and other uncertainties, all of which are difficult to predict and
some of which are beyond our control. For these reasons, you should not rely
on these forward-looking statements when making investment decisions. The
words "expect," "believe," "project," "anticipate," "intend," "should,"
"could," "will," "assume," "can," "estimate," "forecast," "future,"
"indicate," "outlook," "plan," "predict," "seek," "target," "would," and
variations of such words and similar expressions are intended to identify
forward-looking statements. Forward-looking statements are only as of the date
they are made and we do not undertake any obligation to update publicly any
forward-looking statement, either as a result of new information, future
events or otherwise except as required by applicable laws and regulations.
More information about the risks and uncertainties relating to these
forward- looking statements may be found in
About Piedmont Natural Gas
Piedmont Natural Gas is an energy services company primarily engaged in
the distribution of natural gas to more than one million residential,
commercial and industrial utility customers in
SOURCE Piedmont Natural Gas Company
Source: PR Newswire
Related Articles
- Gas Natural Begins Natural Gas Supply to Moia
- South Carolina Electric & Gas Company Seeks Mid-Period Adjustment to Fuel Cost Portion of Electric Rates
- Gas Natural to Spend $70 Million to Expand Customer Base
- Gas Natural Reportedly Looking to Acquire Stake in Distrigaz
- Gas Natural SDG, S.A. Commences U.S. Offer for Endesa, S.A.
- Gas Natural-Endesa Deal Hits Trouble
- Gas Prices Drop As Russia Restores Full Supplies to Customers
- Endesa Chief Denounces Hostile Bid By Gas Natural
- Endesa Chief Speaks Out Against Gas Natural Bid
- Rate Hikes OK'D for Natural Gas; Oregon Commissioner Blames Wholesale Costs, Says Utilities Won't Add to Profits
 |
 |
User Comments (0)
RSS Feeds