Piedmont Natural Gas wants to shave customer bills in the Carolinas to reflect the dropping wholesale costs of gas.
Residential billing rates would go down 5 percent under current rates in both states. N.C. customers would see a 10 percent drop from rates of a year ago.
The new rates, if approved by state utilities commissions, would go into effect March 1.
An N.C. residential customer who paid the typical $135 for gas used in March 2009 would pay about $122 for this March’s use.
Wholesale gas costs make up the largest part of customer bills. Piedmont and other natural gas companies periodically “true up” their customer rates to reflect changes in wholesale costs, but can’t add additional profit margins.
Piedmont filed requests with utilities commissions this week to lower the wholesale benchmark contained in customer billing rates.
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