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Piedmont Natural Gas seeks lower rates

Charlotte-based Piedmont Natural Gas said today that it has filed requests to reduce its residential natural gas rates by 3 percent in North Carolina and 2.5 to 3.5 percent in South Carolina.

If state regulatory commissions approve the requests, the reductions would take effect March 1.

The company said the rates it is proposing reflect reductions of about 14 percent in North Carolina and 13 to 15 percent in South Carolina from rates in effect a year ago.

The company said the requests to lower rates reflect continuing declines in the wholesale cost of natural gas.

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