NW Natural Rate Reduction Pending Approval, Officials Say

PORTLAND, OR — NW Natural officials last Friday announced a possible rate reduction for Oregon customers should the Oregon Public Utility Commission approve by October's end NW Natural's request to lower rates for the third consecutive year. If approved, NW Natural officials said customers could see lower utility bills by Nov. 1.

The request, filed Sept. 15, follows NW Natural's nod for earning the highest score for large utilities in the western U.S. on J.D. Power's 2017 Power Gas Utility Residential Customer Satisfaction Study — and is a direct result of anticipated low gas prices in 2018 due to abundant natural gas supplies, NW Natural officials said.

"We're proud to pass cost savings on to our customers while providing the same high-quality service, reliability and safety that they expect," NW Natural President and CEO David H. Anderson said in a statement. "Once again, our customers will be paying less for their natural gas than they did 15 years ago."

NW Natural requested rate reductions for both residential and commercial customers, with residents getting a 6.4 percent decrease and businesses getting a 7.3 percent decrease. According to NW Natural officials, that reduction equates to about $3.43 each month for an average resident who uses roughly 50 therms per month. Businesses that use about 231 therm per month can look forward to saving an estimated $15.62.

In June, NW Natural returned as credit about $11.6 million to its customers (roughly $12 per customer, officials said) for its "efficient pipeline capacity management and effective use of the company's underground natural gas storage facility at Mist, Oregon, during 2016."

Officials said NW Natural customers have been returned more than $105 million in credit over the past 11 years.

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