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NW Natural rolls out $28.9 million in credits

TRIBUNE PHOTO: KEVIN HARDEN - NW Natural plans to distribute about $29 million in credits in June because of changes in the cost of natural gas.Northwest Natural Gas Co. plans to give its customers some credit. About $29 million worth of credit, the company said Wednesday.

The Portland utility known as NW Natural, which provides natural gas service to 718,000 residential, commercial and industrial customers in Oregon and Southwest Washington, said Oregon customers will get about $26 credit on their June bills. Washington customers could expect about $27 in credit.

The company said June 1 that the credits would total $28.9 million for customers.

“This is great news for our customers, who are already paying less for natural gas than they did 15 years ago,” said Gregg Kantor, NW Natural chief executive officer. “Natural gas continues to be an affordable and highly efficient energy choice for customers.”

The first bill credit is a refund for the weighted average cost of gas, totaling $16.8 million for Oregon customers. The average residential customer in Oregon will receive a bill credit of about $16. The average small commercial customer will get a $75 credit.

The second bill credit is for about $9.4 million for interstate storage. The average residential customer's credit will be about $10. The average small commercial customer's credit will be nearly $41.