Oct. 28, 2010
Docket Number: UG-101487
OLYMPIA, Wash. – Customers of Northwest Natural Gas Co. (NWNG) will find it less expensive to heat their homes this winter due to the continued drop in the wholesale market prices, state regulators said today.
The Washington Utilities and Transportation Commission (UTC) approved the company’s request to lower natural gas rates almost 2 percent for residential customers and 2.1 percent for commercial customers beginning Nov. 1.
The typical NWNG residential customer who uses 59 therms will realize a savings of about $1.23 a month and the average business customer will see a drop of approximately $6 a month. This reduction in rates continues a trend. Last year because of dramatically reduced wholesale costs the company reduced rates by about 22 percent.
Natural gas companies are required to adjust rates periodically to reflect changes in wholesale prices. More than half of NWNG customer’s monthly bill is attributable to the cost of natural gas of which the company is not allowed to collect a profit.
Headquartered in Portland, Ore., NWNG serves 66,887 residential and business customers in Clark, Skamania and Klickitat counties in Washington state.
The three-member state commission regulates the private, investor-owned natural gas utilities in Washington. It is the commission’s responsibility to ensure regulated companies provide safe and reliable service to customers at reasonable rates, while allowing them the opportunity to earn a fair profit.
Staff contact: Marilyn Meehan