New Energy Bill Is Positive First Step, According to Piedmont Natural Gas
Posted on: Monday, 8 August 2005, 18:01 CDT
CHARLOTTE, N.C., Aug. 8 /PRNewswire-FirstCall/ -- Piedmont Natural Gas Chairman, President and Chief Executive Officer Thomas E. Skains today lauded the signing of the Energy Policy Act of 2005 by President Bush. "We applaud and appreciate the efforts of both Houses of Congress and President Bush in the passage of this very important Energy legislation. The Energy Bill is a positive, first step in addressing the critically important energy issues facing our country."
Natural gas customers across the country have been faced in recent years with dramatically rising wholesale natural gas costs due to increased demand and tightening supplies. The delicate balance between supply and demand has been exacerbated, in part, because of diminishing natural gas production from existing supply fields and because of energy policies that restrict the access to and the development of additional domestic natural gas supplies. Skains commented, "This bill will not fix our energy problems overnight. In the near term - certainly this winter - natural gas customers across the country and in our market area are likely to again face rising natural gas costs. It will take additional time, effort and teamwork to implement initiatives to achieve the Energy Bill's goals of promoting exploration, increasing supplies and reducing energy prices for consumers and businesses."
Key components of the Energy Bill include provisions that encourage fuel diversity in the generation of electricity, provide incentives promoting energy efficiency and innovative technology, allow an inventory of energy reserves in the Outer Continental Shelf (OCS) and support LNG imports and improved leasing and permitting processes in the development of existing supply fields.
About Piedmont Natural Gas
Piedmont Natural Gas is an energy services company primarily engaged in the distribution of natural gas to 960,000 residential, commercial and industrial utility customers in North Carolina, South Carolina and Tennessee, including 60,000 customers served by municipalities who are wholesale customers. Our subsidiaries are invested in joint venture, energy-related businesses, including unregulated retail natural gas marketing, interstate natural gas storage, intrastate natural gas transportation and regulated natural gas distribution. More information about Piedmont Natural Gas is available on the Internet at http://www.piedmontng.com/.
Piedmont Natural Gas Company
CONTACT: David L. Trusty, +1-704-731-4391, ordavid.trusty@piedmontng.com , or Headen Thomas, +1-704-731-4438, orheaden.Thomas@piedmontng.com , both of Piedmont Natural Gas Company
Web site: http://www.piedmontng.com/
Source: PRNewswire-FirstCall
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