Profile: Piedmont Natural Gas Company Inc (PNY)
31 May 2016
Piedmont Natural Gas Company, Inc. (Piedmont), incorporated on December 14, 1993, is an energy services company whose principal business is the distribution of natural gas to over one million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee, including customers served by municipalities who are the Company's wholesale customers. The Company is invested in joint venture, energy-related businesses, including unregulated retail natural gas marketing, and regulated interstate natural gas storage and intrastate natural gas transportation. The Company operates in two segments: regulated utility and non-utility activities. The regulated utility segment is the gas distribution business, where it includes the operations of merchandising and its related service work and home warranty programs, with activities conducted by the utility. The non-utility activities segment consists of the Company's equity method investments in joint venture, energy-related businesses.
In the Carolinas, the Company's service area is consists of numerous cities, towns and communities. The Company provides service from resource centers in Anderson, Greenville and Spartanburg in South Carolina and Charlotte, Salisbury, Greensboro, Winston-Salem, High Point, Burlington, Hickory, Indian Trail, Spruce Pine, Reidsville, Fayetteville, New Bern, Wilmington, Tarboro, Elizabeth City, Rockingham and Goldsboro in North Carolina. In North Carolina, the Company also provides wholesale natural gas service to Greenville, Rocky Mount and Wilson. In Tennessee, the Company's service area is the metropolitan area of Nashville, including wholesale natural gas service to Gallatin and Smyrna. The Company holds non-exclusive franchises for natural gases service in many of the communities the Company serves.
As of October 31, 2013, the Company owns or has under contract 35.5 million dekatherms of storage capacity, either in the form of underground storage or Liquefied natural gas (LNG) and the amount of natural gas in storage varied from 10.9 million dekatherms to 25.1 million dekatherms. The Company sold to or transported 292.7 million dekatherms of gas for large volume customers as of October 31, 2013.
Piedmont Natural Gas Company Inc
4720 Piedmont Row Dr
CHARLOTTE NC 28210-4269
Company Web Links
- BRIEF-Duke Energy says on track to close Piedmont deal by 2016 end
- BRIEF-Piedmont says denial of water quality certification to not impact Duke's acquisition of co
- Saturated U.S. natgas market may get boost from unlikely source
- BRIEF-Piedmont Natural Gas - Received approval from TRA for a change in control
- BRIEF-Piedmont Natural Gas receives Tennessee regulatory authority approval for Duke Energy deal