Piedmont Natural Gas reaches comprehensive agreement to help manage customer costs and support Upstate growth

• Agreement lowers pass-through natural gas costs to customers while supporting investments for safety, reliability and economic growth
• Piedmont will contribute $220,000 to help vulnerable South Carolina customers

CHARLOTTE, N.C. - After carefully listening to customer and stakeholder feedback, Piedmont Natural Gas has reached a comprehensive agreement with key consumer and industrial groups in South Carolina to keep costs as low as possible while continuing to invest in the infrastructure needed to support the Upstate's homes and businesses.

The agreement is subject to the review and approval of the Public Service Commission of South Carolina, the state agency that oversees rates and services for utilities such as Piedmont. If approved, the agreement would allow Piedmont to recover recent utility infrastructure investments in its South Carolina natural gas system to support ongoing safe, reliable natural gas service across the Upstate.

The big picture: The comprehensive agreement contains measures to moderate the impact on customers' bills, including significantreductions in pass-through natural gas costs and a commitment by Piedmont to contribute$220,000 over four years in South Carolina to its Share the Warmth energy assistance program, which helps low-income individuals and families pay their monthly energy bills.

About 170,000 customers in Anderson, Spartanburg, Greenville and Cherokee counties rely on Piedmont for natural gas service, and more than 90% are residential customers.

Our view: "We recognize the cost pressures many customers are facing, and we appreciate the thoughtful engagement and collaboration with the South Carolina Office of Regulatory Staff, the South Carolina Department of Consumer Affairs and the South Carolina Energy Users Committee in reaching this agreement," said Emily Henson, president of Piedmont Natural Gas. "This agreement helps us continue providing safe, reliable natural gas service while also making essential system investments and supporting South Carolina's continued growth."

What's next: The Public Service Commission of South Carolina will consider the agreement and make the final decision. If approved, the new rates will likely take effect in October.

Who's involved: The comprehensive agreement was jointly presented last week to the Public Service Commission of South Carolina by Piedmont Natural Gas, the South Carolina Office of Regulatory Staff, the South Carolina Department of Consumer Affairs and the South Carolina Energy Users Committee.

Helping customers manage bills

Equal Payment Plan: Piedmont's free Equal Payment Plan helps customers manage their budgets by spreading natural gas costs into predictable monthly payments based on annual usage.

Energy-saving tools: Piedmont offers energy-saving tips and tools to help customers understand what affects their bills and identify ways to save money and energy year-round.

Payment assistance:

• Share the Warmth provides funds to local agencies to help families with utility bills, regardless of the energy source they use.
• The Low Income Energy Assistance Program provides assistance for natural gas, electric and other home energy costs. Piedmont encourages customers in need to apply for available assistance programs.

Piedmont Natural Gas

Piedmont Natural Gas, a subsidiary of Duke Energy, distributes natural gas to more than 1 million residential, commercial, industrial and power generation customers in North Carolina and South Carolina. More information: piedmontng.com. Follow Piedmont Natural Gas: Facebook.

Media contact: Jason Wheatley
Media line: 877.348.3612
[email protected]