Gas utility’s efficient asset management leads to multi-month rate relief to Oregon customers
PORTLAND, Ore. — NW Natural customers in Oregon will receive a credit on their bills in January, February and March to reduce energy costs during peak winter months. Totaling more than $40 million, the distributed credits are a result of NW Natural’s efficient pipeline capacity management and effective use of the company’s underground natural gas storage facility.
The average residential customer can expect a credit of nearly $13 a month, which is approximately a 13% savings on their average bill for the months of January, February and March 2022. The average small commercial customer can expect a credit of about $60 a month, which is an estimated 16% savings per month over that same time period.
“By building on a proven track record of successful asset optimization, our customers continue to benefit from the exceptional value of natural gas,” said David H. Anderson, NW Natural president and CEO. “Not only can customers count on safe, reliable and affordable natural gas all year round, but they can also look forward to a little more money back in their pockets at a time when inflation is impacting us all.”
This marks the 19th year NW Natural has credited customers, resulting in a total $212 million. In previous years, customers received a lump-sum bill credit but record high results from asset optimization activities allow NW Natural to give customers continued relief through the 2022 winter season.
About NW Natural
NW Natural is a local distribution company that currently provides natural gas service to approximately 2.5 million people in more than 140 communities through more than 780,000 meters in Oregon and Southwest Washington with one of the most modern pipeline systems in the nation. NW Natural consistently leads the industry with high J.D. Power & Associates customer satisfaction scores. NW Natural, a part of Northwest Natural Holding Company, (NYSE: NWN) (NW Natural Holdings), is headquartered in Portland, Oregon, and has been doing business for more than 160 years. NW Holdings owns NW Natural, NW Natural Renewables Holdings (NW Natural Renewables), NW Natural Water Company (NW Natural Water), and other business interests. We have a longstanding commitment to safety, environmental stewardship, and taking care of our employees and communities. Learn more in our latest ESG Report.