As the winter season approaches, Cascade Natural Gas Corp. Friday reported that it has received approval from the Washington Utilities and Transportation Commission (WUTC) for its purchased gas cost adjustment, as well as its amortization of under-recovered gas cost from last winter’s filings.

Under the two approved filings, Cascade’s residential customers will see a net rate increase of 2.2%, or 1.9% for the average commercial customer, and 2.1% for the average industrial customer, effective Nov. 1, 2001. The company reported that under the filings it will recover last winter’s gas cost over the next three years.

“In order to shield our customers from the price spikes that can occur in a volatile wholesale market, Cascade developed a strategy of “locking in the quantity and price of the natural gas requirements of our customers for the next three years,” said Jon Stoltz, senior vice president of Regulatory and Consumer Affairs. “By locking in the price of the supply, we can assure our customers that our rates will not significantly change, and by locking in the quantity of supply, we can assure our customers that there will be adequate natural gas available to meet their needs. The fixed priced contracts will help us avoid an under-recovery situation similar to what occurred last winter.”

Seattle, WA-based Cascade Natural Gas is a local distribution company that provides natural gas service to more than 147,000 residential, commercial and industrial customers in Washington and more than 43,000 customers in Oregon.

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