Portland

Portland, OR-based Northwest Natural Gas Co. and its regulated local distribution company (LDC) had their credit rating dropped from double-A to single-A (“A+”) Monday by Standard & Poor’s Ratings Services (S&P) because of added risk from nonutility ventures, such as the Gill Ranch underground gas storage facility in Northern California. Nevertheless, S&P described the company’s outlook as “stable.”

Portland, OR-based Northwest Natural Gas Co. and its regulated local distribution company (LDC) had their credit rating dropped from double-A to single-A (“A+”) Monday by Standard & Poor’s Ratings Services (S&P) because of added risk from nonutility ventures, such as the Gill Ranch underground gas storage facility in Northern California. Nevertheless, S&P described the company’s outlook as “stable.”

A decline in the price of natural gas could result in significantly lower rates this winter for the customer of two utilities in the Pacific Northwest.

Portland, OR-based Northwest Natural Gas Co. executives said Tuesday the utility faces additional job cuts of 50-100, but major storage and pipeline projects continue on schedule.

The Oregon Public Utility Commission (PUC) on Tuesday ordered a $32 million refund to Portland-based Northwest Natural Gas Corp.’s customers through a one-time refund and a 3.4% drop in their monthly gas utility rates, effective June 1. Northwest Natural was overcollected for bulk gas purchases for the five-month heating season period (Nov.1, 2008-March 31, 2009), the PUC said in taking the action.

A business/labor coalition put its push for the development of a liquefied natural gas (LNG) terminal and related transmission pipeline into a full-page advertisement in the Portland Oregonian Sunday, urging Gov. Ted Kulongoski and the state legislature to back the major new natural gas infrastructure projects as a job-creating economic stimulus for the state.

Portland, OR-based Northwest Natural Gas Co.’s proposed independent underground gas storage project in Northern California in conjunction with local utility Pacific Gas and Electric Co. (PG&E) as a minority (25%) partner carries increased risk for the utility, according to Standard & Poor’s Ratings Services (S&P), which on Friday changed Northwest’s outlook to “negative” from a previous “stable” designation.

Portland, OR-based Northwest Natural Gas Co.’s proposed independent underground gas storage project in northern California in conjunction with local utility Pacific Gas and Electric Co. (PG&E) as a minority (25%) partner carries increased risk for the utility, according to Standard & Poor’s Ratings Services (S&P), which on Friday changed Northwest’s outlook to “negative” from a previous “stable” designation.

An environmental foundation, dairy farming company and Portland, OR-based Northwest Natural Gas Co.’s renewable energy-buying program for its gas utility distribution customers said Thursday they are collaborating on the first phase of a project to produce biogas from cow manure.