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Piedmont Natural Gas wins rate increase

Piedmont Natural Gas customers in Charlotte and other N.C. towns will see an average $2.50 monthly increase in their residential gas bills, starting in January.

The N.C. Utilities Commission approved the 3.6 percent rate hike Tuesday but said it will be more than offset by reductions in fuel costs and other adjustments that also take effect Jan. 1. That means typical residential customers will actually pay up to $50 a year less in 2014.

Charlotte-based Piedmont won approval to raise revenues by $30.6 million a year, far lower than the nearly $80 million it first sought. It was Piedmont’s first general rate hike in North Carolina since 2008. The company serves 693,000 N.C. customers.

Henderson: 704-358-5051; Twitter: @bhender
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