CHARLOTTE, N.C. -- Natural gas billing rates in Tennessee might be falling again soon. Piedmont Natural Gas has filed to reduce rates in the state for the seventh time since September 2008. Costs are expected to drop because of the nation's abundant supply of natural gas, increased on-shore production from shale gas, and above average temperatures during the 2011-2012 winter heating season.
If approved by the Tennessee Regulatory Authority, the new rates would become effective February 1, 2012. Rates would decrease by about 7%.
Abundant domestic supplies are major factor in falling wholesale natural gas costs; filing to reduce rates is Piedmont's seventh since September 2008
Thomas E. Skains, Piedmont's Chairman, President, and CEO said, "The continuing decline in wholesale natural gas costs is a dramatic win for natural gas customers here and across the nation. This puts money back into the pockets of consumers and back into the economy at a critical time in our economic recovery."