NW Natural (NYSE:NWN) has filed for a rate reduction with the Public Utility Commission of Oregon (OPUC) 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 6.4% and commercial rates by 7.3%. The typical residential customer using an average of 50 therms a month will save about $3.43 each month. The typical commercial customer using 231 therms a month will save $15.62 every month.
“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.”
The Sept. 15 filing reflects anticipated low natural gas commodity prices for the coming year as a result of abundant natural gas supplies. The rate changes also include other year-to-year adjustments and costs approved by regulators.
The OPUC is expected to issue a final decision on this year’s filing by the end of October, with new rates effective Nov. 1. Find more information in the Rates & Regulations section of nwnatural.com or call 503-226-4211 and ask for the Rates & Regulatory Department.
Don’t forget about the June credit
The rate decrease follows a credit on Oregon customers’ June bills. NW Natural returned $11.6 million to Oregon customers — an average of $12 a customer. The credits resulted from efficient pipeline capacity management and effective use of the company’s underground natural gas storage facility at Mist, Oregon, during 2016.
Oregon customers have received more than $105 million in bill credits from efficient pipeline and storage capacity over the last 11 years.