Portland, OR-based NW Natural retail residential and commercial/industrial customers will share in a $35 million one-time credit on their utility bills in June, resulting from the continuing drop in wholesale natural gas prices. The Oregon Public Utility Commission (PUC) approved credits that will average $36.58 for residential customers and will range from $714 to $20,000 for industrial customers. The utility asked the PUC to approve the credit as a way of passing along lower gas price savings accumulated from Nov. 1, 2011 through March 31. State regulators also indicated that there may be another credit stemming from lower gas costs in the second quarter. In addition, the PUC approved a separate $3.1 million credit for storage and transportation activities that will further reduce the average residential customer's June bill by nearly $10.
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