Winter heating bills could be higher for Piedmont Natural Gas’ approximately 737,000 residential customers this winter.
Duke Energy’s Piedmont Natural Gas wants to raise summer and winter use rates for residential customers, despite lower fuel costs. The price of natural gas decreased since Duke last adjusted fuel rates in June.
Average home gas costs would increase about 15.3% annually. The new rate would likely take effect sometime in January 2025.
The company also requested an extension of tax credits the company has been receiving from the Tax Cuts and Jobs Act of 2017, further decreasing the proposed rate adjustment.
This rate hike would result in an 11.7% revenue increase for the company and recover costs for the operations and maintenance of Piedmont's gas transmission lines. Duke Energy reported a loss of 2 cents per share on its gas utility during the last quarter.
State regulators gathered in the Mecklenburg County Courthouse Wednesday evening to hear public comments on the proposed rate hike. They greeted an empty room — and adjourned the meeting after introductions.
The courthouse barred WFAE from recording the proceeding, citing a policy regarding official courthouse business.
State regulators will host a virtual meeting Monday at 6:30 p.m. Customers can still file comments on the proposed rate hike online, docket number G-9, SUB 837.
