09/13/2017 | Press release | Distributed by Public on 09/13/2017 10:29
Washington Customers' Natural Gas Rates Will Fall Again
NW Natural files for third consecutive rate reduction
PORTLAND, Ore. - NW Natural (NYSE:NWN) has filed for a rate reduction with the Washington Utilities and Transportation Commission (WUTC) for the third year in a row. If approved, customers can expect to see lower bills starting Nov. 1.
NW Natural has requested residential rates be lowered by 3.1% and small-commercial rates by 3.4%. The typical residential customer using an average of 53 therms a month will save about $1.60 each month. The typical small-commercial customer using 248 therms a month will save about $7.52 every month.
The Sept. 12 filings reflect anticipated low natural gas commodity prices for the coming year as a result of continued abundant natural gas supplies. The rate changes also include other year-to-year adjustments and costs approved by regulators.
'We're proud to pass cost savings on to our customers while providing the same high-quality service, reliability and safety that they expect,' said David H. Anderson, NW Natural President and CEO. 'Once again, our customers will be paying less for their natural gas than they did 15 years ago.'
More about Rates
Each year, local gas distribution companies file for rate adjustments with the WUTC based on expected gas commodity costs for the next 12 months; a true-up of any differences between the previous year's gas costs and the amount collected from customers; and other adjustments based on previous agreements with the WUTC.
These other adjustments include:
The lower cost of natural gas is the largest reduction. NW Natural passes the cost of natural gas through without a markup, so customers benefit directly from lower commodity costs.
The WUTC is expected to issue a final decision on this year's filing by the end of October, with new rates effective Nov. 1.
NW Natural's filings are requests that are subject to public review and a decision by the WUTC. Customers may submit comments on the proposed changes at www.utc.wa.gov 'Submit a Comment,'[email protected], 1-888-333-9882, or WUTC, PO Box 47250, Olympia, WA 98504-7250. Customers can also request more information, review the filing, and find out about open meetings.
Find more information visit the Rates & Regulations section of nwnatural.com or call 503-226-4211 and ask for the Rates & Regulatory Department.
About NW Natural
NW Natural (NYSE:NWN) is headquartered in Portland, Ore., and provides natural gas service to about 730,000 residential, commercial and industrial customers in Oregon and Southwest Washington. It is the largest independent natural gas utility in the Pacific Northwest. Additional information is available at www.nwnatural.com.
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