Sustainability: “A business approach that integrates environmental, social and ECONOMIC stewardship into our business to create value for our communities and for our shareholders.”
Economic stewardship requires working diligently as a safe and reliable energy provider, a partner for local communities and a stable investment for our shareholders. Our results speak for themselves, with positive shareholder return, continued customer growth and increasing investments in infrastructure.
The health of local commerce is essential to the well-being of any community. Piedmont Natural Gas is consistently contributing to the success and economic growth of communities we serve by reducing energy costs, providing safe and reliable energy, and promoting local economic growth. When families and business owners save on energy costs, they spend more on other products and services that further fuel the economy.
During the past 20 years, Piedmont has performed better than the S&P 500 stocks and on par with our peers. For example, $100 invested in Piedmont in 1994 is worth approximately $870 today. Shareholder returns over these 20 years have consistently delivered solid results for our investors, our employees and our customers.
Atlantic Coast Pipeline (ACP)
In 2014, Piedmont Natural Gas, Duke Energy, Dominion Resources and AGL Resources partnered to announce the Atlantic Coast Pipeline (ACP), a new, 550-mile, interstate natural gas transmission pipeline. Since North Carolina currently receives most of its natural gas from a single major pipeline, the ACP will provide added reliability and meet the growing market demand with low-cost supplies of natural gas for electric power generation and for additional growth in our markets. The ACP will deliver natural gas from the Marcellus and Utica shale regions in West Virginia, Ohio and Pennsylvania to markets in North Carolina, Virginia and West Virginia. Construction is expected to begin in late 2016, with an expected in-service date of late 2018.
Click here to watch a Carolina Business Review interview with Piedmont Natural Gas Chairman, President and CEO Tom Skains and Duke Energy CEO Lynn Good regarding the Atlantic Coast Pipeline.
Based on cost comparisons with propane and electricity, natural gas continues to be the most affordable energy choice for consumers. The American Gas Association reports that homes using natural gas for heating, water heating, clothes drying and cooking can save nearly $700 each year.
We have continued our efforts to help customers save money through cost comparisons and an expanded offering of energy analysis tools. Piedmont now provides several online tools to help our customers:
- estimate their home's energy consumption
- learn tips for saving money and energy
- compare appliances and energy sources
- compare costs of electricity, propane and natural gas
- use account data to measure their home's actual energy consumption
Compressed natural gas (CNG) continues to be a cost-competitive energy choice for fleets, with many customers choosing it for the environmental benefits as well. Between Piedmont and customer-owned CNG stations, we sold or transported more than 250,000 dekatherms of CNG to commercial customers for the year ended Oct. 31, 2014, (equivalent to approximately 4,350 homes) and used more than 17,000 dekatherms of CNG in our own fleets. Between our customers and our own fleet, this CNG usage displaced more than 2.1 million gallons of gasoline and diesel fuel, resulting in a reduction of nearly 19,000 metric tons of ozone emissions.
Our success depends on the quality of the customer experiences we offer and on the support we provide to our communities. Whether it is online, by telephone or while at a home or business, we are constantly receiving feedback from our customers…and we take it seriously. It is for this reason that we measure ourselves on customer satisfaction and use that information to continuously improve our performance.
In 2013 and 2014, we continued our focus on maintaining high customer satisfaction ratings in national surveys.
Our Supplier Diversity program was established in 2012, and gained momentum in 2013 and 2014. The program promotes diversity among our suppliers, including small businesses and minority-, veteran- and women-owned businesses. Opening our doors to more diverse and local businesses has introduced Piedmont to many talented and competitive vendors whom otherwise may have been considered too small to conduct business with Piedmont.
We are committed to developing and increasing equitable opportunities for diverse suppliers, vendors and contractors. Supporting a broad range of suppliers, vendors and contractors means we can build relationships with small, local and diverse businesses that provide quality services, products and commodities at competitive prices. Piedmont believes that diversity and inclusion contribute to its business success and make the communities we serve stronger.
- Advertising, Sales & Promotions
- Courier/Transportation Services
- Distribution Contractors
- Electrical Contractors
- Engineering Services
- Facility Management/Janitorial
- Field Services
- Fleet Services/Maintenance
- Gas Pipeline Contractors
- General Contractors
- Health Services/Supplies
- HR Services
- IT Services (Hardware, Software)
- Leak Survey Services
- LNG Construction/Maintenance
- Materials - General
- Office Supplies/Equipment
- Paving Contractors
- Professional Services
- Publisher/Print Services
- Safety Supplies/Equipment
- Staffing (Administrative, IT, Legal, Executive)
- ROW Services
- Survey Services
- Transmission Contractors
Since 2012, we’ve increased our total number of diverse suppliers by nearly 25 percent, leading to an overall increase of spending with diverse suppliers of more than 53 percent.
Supplier Diversity Procurement Forum
In June 2014, Piedmont hosted the company’s first Supplier Diversity Procurement Forum and offered the Charlotte business community the opportunity to learn about our commitment to the supplier diversity program.
The event featured 140 registered vendors and a panel of eight Piedmont business leaders who answered questions detailing how partnerships are sourced and maintained. Following the panel discussion, more than 70 diverse supplier businesses met with representatives from various Piedmont departments to discuss conducting business with Piedmont.
Supplier Success Stories
Associate Staffing, a small, women-owned staffing agency, attended Piedmont's matchmaking event and, within a few months, started working with Piedmont's Talent and Performance Excellence team to staff a Database Administrator position in our IT department.
JCMR Technology, a veteran-owned small business, has worked with Piedmont as an IT Solutions provider. After attending the matchmaking event, JCMR received a bid to staff a consultant position, and our IT Sourcing team has contracted with them for work opportunities.
Virtuometry, a woman-owned consulting firm specializing in utility inspection services, received stellar feedback from our Engineering Project Management group in their matchmaking session. After the event, Virtuometry was invited back to Piedmont for follow-up discussions.