NW Natural has filed for a rate reduction with the Washington Utilities and Transportation Commission (WUTC). If approved, the new lower rates will take effect Nov. 1.
The utility company has requested a residential rate reduction of 1.5 percent and commercial rates by 1.8 percent. The typical commercial customer using 243 therms a month would pay about $3.94 less every month.
The filing reflects relatively stable natural gas commodity prices for the coming year, NW Natural said, as well as other year-to-year adjustments and costs approved by regulators.
“Our customers are paying less for their natural gas today than they did 15 years ago,” noted David H. Anderson, NW Natural President and CEO. “It’s gratifying to be able to provide the efficiency and performance benefits of our product at such a great value.”
The rate reduction is in addition to a bill credit customers received earlier this year. In June, NW Natural returned about $2.6 million to Washington customers because gas prices were lower than expected since rates took effect Nov. 1, 2015. The average residential customer received a bill credit of about $27, and the average small commercial customer’s credit was $111.
Regulators will issue a final decision on this year’s filing by the end of October.
