Rate

Washington state regulatory staff filed an all-party settlement on Monday calling for regulators to approve a $4 million (1.6%) general rate increase for Kennewick, WA-based Cascade Natural Gas Co.

Pennsylvania’s Independent Fiscal Office (IFO) said this month that Democratic Gov. Tom Wolf’s latest proposal to enact a 6.5% severance tax on natural gas production would give the state the highest effective rate in the country.

Pennsylvania’s Independent Fiscal Office (IFO) said this month that Democratic Gov. Tom Wolf’s latest proposal to enact a 6.5% severance tax on natural gas production would give the state the highest effective rate in the country.

Few U.S. onshore oil and natural gas producers were working to build “monster” wells in 2015 as they contracted budgets and reduced crews, but there still proved to be impressive results in a few key basins, according to Rystad Energy.

The Idaho Public Utilities Commissionhas adopted a natural gas rate hike by Spokane, WA-based Avista Utilitiesof 3.5% effective Jan. 1. The settlement will also grant an electric utility rate hike of 0.6%. Avista had requested gas rate increases of 4.5% in 2016 and 2.2% in 2017 and electric hikes of more than 5% each year. Avista will receive a $2.5 million increase to revenue under the settlement.

The Pennsylvania Public Utility Commission (PUC) has reduced PECO Energy Co.’s electric distribution rate request by 33%, approving a settlement that would allow a $127 million annual increase for its customers, rather than the $190 million increase it had filed for earlier this year.

The Federal Reserve’s decision to raise interest rates will increase borrowing costs and lead to greater credit risk for lower-rated companies, Moody’s Investors Service said in a report.

Struggling energy companies continue to put upward pressure on U.S. and global speculative grade default rates, according to a recent report from Moody’s Investors Service.

As part of an effort to considerably slash the state’s personal income tax rate, Ohio’s Republican Gov. John Kasich on Monday unveiled a two-year budget proposal that calls for a 6.5% severance tax on oil and gas produced by the state’s unconventional operators.