NW Natural Gas Files for 1.7 Percent Rate Hike
The proposed rate change includes a 1.7 percent residential increase, which means the average homeowner will pay about $1.06 more per month.
(SALEM, Ore. ) — Northwest Natural Gas Company on Monday filed its annual purchased gas adjustment with the Public Utility Commission of Oregon.
The proposed rate change includes a 1.7 percent residential increase, which means the average homeowner will pay about $1.06 more per month.
The average business customer will see an increase of about 4.2 percent or $9.54 per month.
"The main reason gas costs have increased is this past winter's extreme cold weather -- especially in the eastern half of the country -- which caused temporary price spikes, low gas storage levels and higher prices to refill storage," said Randy Friedman, NW Natural director of gas supply. "But the good news is that our customers are still paying less than they paid for gas 10 years ago, and due to the abundant supply of domestic and Canadian natural gas, prices are expected to remain relatively stable for the next few years."
Each fall, NW Natural files for rate changes, based primarily on the wholesale cost of natural gas, plus some annual adjustments based on ongoing agreements with the OPUC.
The OPUC is expected to rule on the proposed rate change in late October, with the new rates taking effect on November 1.
Source: NW Natural Gas
