Piedmont Natural Gas Rate Increase Approved
COMMISSION ADOPTS PIEDMONT NATURAL GAS RATE INCREASE
Nashville, Tennessee – The Tennessee Public Utility Commission adopts a rate increase agreed to by the parties involved, Piedmont Natural Gas and the Consumer Advocate Unit of the Tennessee Attorney General's Office.
The proposed rate approved by the Commission reflects a $16.25 million annual increase, which is $13.65 million less than the originally proposed rate increase of $29.9 million requested by Piedmont.
“I’m very pleased the rate-setting process worked as the parties negotiated a reasonable settlement of $16.25 million,” said Kenneth C. Hill, Commission Chairman.
Rate changes involve evidentiary proceedings before the Tennessee Public Utility Commission to determine rates that are just and reasonable for customers and the utility. The rate-setting process determines a fair return for Piedmont based upon parties and the Commission auditing and examining the company’s financial books and records for expenses, revenues and infrastructure investment.
Chairman Hill added, “This particular settlement demonstrates the resolve of the Commission to ensure the rate setting process is fair, transparent, and evidence based. The Consumer Advocate plays a critical role in protecting customers interests and their efforts along with Piedmont Natural Gas, demonstrates how the process should work and did work in this instance. I commend the Commission staff, the Consumer Advocate and Piedmont Natural Gas for the many hours devoted to analysis and review.”
Contact: Greg Mitchell, Media