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October 10, 2015 5:13 PM ET

Gas Utilities

Company Overview of Public Service Company of North Carolina, Incorporated

Company Overview

Public Service Company of North Carolina, Incorporated, together with its subsidiaries, purchases, sells, transports, and distributes natural gas to residential, commercial, and industrial customers in North Carolina, the United States. The company offers natural gas grills and lights, gas logs, water and space heaters, and outdoor fire products through stores, as well as finances products. It distributes natural gas to approximately 520,000 customers in 96 cities and communities, including the Raleigh, Durham, and Chapel Hill areas in the north central part of the North Carolina; the Concord, Statesville, Gastonia, and Forest City areas in the Piedmont; and the Asheville, Hendersonville, Br...

Building A

800 Gaston Road

Gastonia, NC 28056

United States

Founded in 1917

Key Executives for Public Service Company of North Carolina, Incorporated

Chairman, Chief Executive Officer, Chairman of SCANA Corporation , Chief Executive Officer of SCANA Corporation and President of SCANA Corporation
Age: 68
Chief Financial Officer of Carolina Electric & Gas Company and Senior Vice President of Carolina Electric & Gas Company
Age: 59
Senior Vice President, Assistant Secretary and General Counsel
Age: 77
Senior Vice President of Fuel Procurement & Asset Management
Age: 57
Senior Vice President of Human Resources
Age: 61
Compensation as of Fiscal Year 2015.

Public Service Company of North Carolina, Incorporated Key Developments

Public Service Company of North Carolina, Inc. Files Natural Gas Pipeline Construction and Transportation Agreement with Duke Energy Progress, LLC

Public Service Company of North Carolina Inc. (PSNC) filed a Natural Gas Pipeline Construction and Transportation Agreement (Agreement) between PSNC and Duke Energy Progress, LLC (DEP). The agreement will provide long-term gas redelivery service to DEP's proposed new 650-megawatt (MW) natural gas-fired combined cycle (CC) generating plant in Asheville. This plant is part of DEP's Western Carolinas Modernization Project. It will replace an existing 376-MW coal-fired plant when the coal-fired plant is retired from service. In addition, the new plant will serve current and growing electric demand in the area. DEP is expected to apply for a certificate of public convenience and necessity to construct the new plant pursuant to Section 1 of S.L. 2015-716 in November 2015, with a target commercial operation date of November 2019.

PSNC Energy Reports Earnings Results for the Second Quarter and Year-To-Date Ended June 30, 2015

PSNC Energy reported earnings results for the second quarter and year-to-date ended June 30, 2015. For the period, the company reported earnings decreased $0.01 per share over the second quarter of 2014, primarily due to increased O&M and depreciation. For six months, the company reported earnings were also down $0.01 per share.

PSNC Energy Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

PSNC Energy announced unaudited earnings results for the fourth quarter and full year ended December 31, 2014. Reported earnings in the fourth quarter of 2014 were $23 million, or basic earnings per share of 16 cents, consistent with the fourth quarter of 2013. At year-end 2014, PSNC Energy was serving approximately 521,000 customers, an increase of 2.5% over the previous year. The company reported 2014 earnings of $55 million, or basic earnings per share of 39 cents, compared to $52 million, or basic earnings per share of 37 cents, in 2013. The increase is primarily attributable to increased margins due to customer growth.

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