PORTLAND, Ore. — Customers can’t see the efficiencies of natural gas pipelines and underground storage, but they will see the result of that efficiency as a bill credit in June.
Once again, NW Natural (NYSE:NWN) is issuing bill credits to its Oregon customers – this time $11.6 million. Similar to credits issued in 2017, the average residential customer will see a credit of roughly $12 in their June bill. Commercial customers will also see a cost-savings. The average small commercial customer can expect to see a June bill credit of about $52.
“Natural gas is an efficient and affordable energy source, especially for handling the peak demands of Pacific Northwest winters,” said David H. Anderson, NW Natural president and CEO. “Our teams put in so much work behind-the-scenes to make sure we’re efficiently using our pipelines and gas storage. This year’s bill credits are proof of that effort.”
For the past 14 years, NW Natural has returned more than $123 million in bill credits to Oregon customers. The bill credits are based upon NW Natural’s efficient pipeline capacity management and use of the company’s underground natural gas storage facility at Mist, Oregon.
Washington customers also benefit from the company’s efficiencies. However, instead of showing up as a one-time credit, Washington customers’ credits are included in the monthly billing rate throughout the year.