(WGHP) — Piedmont Natural Gas plans to reduce customer billing rates in North Carolina and South Carolina due to a decrease in the market cost of natural gas compared to last fall, according to a Duke Energy news release.
The decrease will start with February 2023 bills.
This rate reduction translates to savings of around $14 per month, or $170 per year, for the average NC customer and around $10 per month, or $116 per year, for the average SC customer, the release says.
Because natural gas use is normally higher during the winter months, NC customers may reportedly see as much as a $27 reduction each month for their winter bills.
SC customers may see as much as an $18 reduction each month for their winter bills.
PNG requests periodic rate adjustments to reflect fluctuations in the market price of the natural gas it buys.
By law, NG does not mark up the cost of natural gas and must pass through the actual cost on a dollar-for-dollar basis to customers.