NW Natural's Washington Gas Customers to See a 14% Reduction in Rates

Media Contact: Melissa Moore, NW Natural melissa.moore@nwnatural.com, 503-818-9845 (pager)

FOR IMMEDIATE RELEASE

September 11, 2015

 

NW Natural's Washington Gas Customers to See a 14% Reduction in Rates

PORTLAND, Ore. — For the fifth time in seven years, NW Natural (NYSE:NWN), is requesting a rate reduction for Washington customers. If approved by the Washington Utilities and Transportation Commission (WUTC), customer rates will decrease by more than 14% starting Nov. 1.

This means customers will be paying less for natural gas than they did 15 years ago.

"This is great news for customers," said Randy Friedman, director of NW Natural gas supply. "The cost of natural gas has continued to drop this year and is expected to remain low for the next few years."

What customers can expect  

The filing calls for a 14.4% drop in residential rates and a 15.2% reduction for commercial customers. That means the typical residential customer using an average of 58 therms per month would pay about $9.46 less, and the typical commercial customer would pay about $40 less per month.

How the rate filing process works  

Each year, NW Natural files its purchased gas adjustment (PGA) with the WUTC. The purpose of the filing is to true-up differences between estimated and actual gas costs and to establish the cost of gas to be applied to customer bills for the Nov. through Oct. PGA cycle.

The company adjusts for gas cost changes each year. NW Natural does not profit from increases in gas costs. When it files the PGA, NW Natural typically files to revise rates for other annual adjustments based on ongoing agreements with the WUTC.

Regulators will issue a final decision on rates by the end of October, with new rates effective Nov. 1. For more information, visit the Rates & Regulations section of nwnatural.com or call 503.226.4211 and ask for the Rates & Regulatory Department.

About NW Natural

NW Natural (NYSE:NWN) is headquartered in Portland, Ore., and provides natural gas service to about 707,000 residential, commercial and industrial customers in Oregon and Southwest Washington. It is the largest independent natural gas utility in the Pacific Northwest. Additional information is available at www.nwnatural.com.

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