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Piedmont Natural Gas history
Piedmont Natural Gas company history timeline
Since its formation in 1950, Piedmont Natural Gas Company, Inc., has provided natural gas and propane to customers first in the Piedmont region of the Carolinas and, later, to those in Tennessee.
The sale was finalized on May 1, 1951.
The first shareholders' meeting took place in Charlotte, North Carolina, in 1958.
Piedmont acquired Carolina Natural Gas Company in 1968, thereby gaining 9,000 new natural gas customers and 1,000 new propane customers in Hickory and the surrounding areas.
By 1974, Piedmont's curtailments had reached 40 percent, and then edged up to 56 percent the next year.
Curtailments essentially ended in 1979.
The company recorded $9.3 million in net income during the same year, a 60 percent increase over 1979, and embarked on a $16.3 million program of system expansion.
A total of 9,000 customers joined Piedmont's rolls in 1980.
All told, by 1984, non-utility endeavors represented 4.4 percent of business.
In 1984, Piedmont opened a Houston office and formed a joint venture with natural gas marketers in Texas that allowed it to market wholesale gas to other utilities and large-volume customers beyond its three-state area.
In 1995, Piedmont Intrastate Pipeline Company, a division of one of the Piedmont subsidiaries, Piedmont Energy, joined with several other utilities to extend the Cardinal Pipeline of North Carolina 65 miles to a point in the vicinity of Raleigh.
Piedmont also ended its natural gas appliance sales and installation business in 1996 after 45 years of involvement when revenues no longer justified expenses.
In 1997, the company enjoyed a net income of $54.1 million, an 11.4 percent increase over the previous year.
The mild winter of 1997-98 made a dent in sales, but Piedmont continued to add new customers at a much faster rate than most utilities across the nation.
The company was acquired by Duke Energy on October 3, 2016.
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Piedmont Natural Gas competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Progress Energy | 1925 | $22.7B | 11,000 | - |
| SCANA | 1924 | $4.1B | 5,228 | - |
| Pepco Holdings | 1896 | $23.0B | 1,429 | - |
| AVANGRID | 1852 | $8.3B | 7,000 | 2 |
| Duke Energy | 1904 | $30.4B | 27,535 | 151 |
| Energy Transfer Solutions | 2003 | $8.5M | 75 | 11 |
| Chesapeake Energy | 1989 | $11.7B | 1,300 | 22 |
| The Williams Companies | 1908 | $10.5B | 5,425 | 282 |
| Exelon | 2000 | $23.0B | 33,383 | 257 |
| Atmos Energy | 1906 | $4.2B | 4,628 | 62 |
Piedmont Natural Gas history FAQs
Zippia gives an in-depth look into the details of Piedmont Natural Gas, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Piedmont Natural Gas. The employee data is based on information from people who have self-reported their past or current employments at Piedmont Natural Gas. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Piedmont Natural Gas. The data presented on this page does not represent the view of Piedmont Natural Gas and its employees or that of Zippia.
Piedmont Natural Gas may also be known as or be related to Piedmont Natural Gas, Piedmont Natural Gas Co Inc, Piedmont Natural Gas Co., Piedmont Natural Gas Co. Inc. and Piedmont Natural Gas Company, Inc.