“This reduction is in addition to the $4 million in gas cost savings that we passed back to Washington customers in their June bills,” said Gregg Kantor, NW Natural President and CEO. “Part of the reason for the lower prices is the surge of new domestic gas supplies. Last winter was also much warmer than usual, which helped reduce demand and keep prices lower.”
Each year, NW Natural and other local gas companies adjust their rates to reflect changes in wholesale natural gas prices. Over the last four years, rates for NW Natural Washington customers have decreased by about 35 percent.
The company will submit a final filing to the WUTC in late October.