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21 Jul 2014
22 Jul 2014
Natural gas rates go up, but not as much as requested
Natural gas prices for NW Natural customers will rise 1.3 percent on Nov. 1, under a preliminary decision announced Monday by the Oregon Public Utility Commission.
The gas company had requested a 6 percent increase, which would have raised an additional $43.7 million from customers. Instead, the PUC granted a smaller increase, which will provide an additional $8.7 million to the Portland-based utility.
This was an extremely complex and difficult case to resolve, Commission Chair Susan Ackerman stated in a press release. However, I am confident this decision strikes a fair balance between the needs of customers and the company.
Ackerman said the increase will likely be more than offset by a drop in wholesale natural gas prices that will also take effect Nov. 1. The PUC expects to make that decision on Oct. 31.