OPUC Approves Northwest Natural's Rate Case, Phases Out Line Extension Allowance By 2027, And Orders $13.7M Rate Base Reduction; Revenue Requirement Increases By $93.3M With Adjusted Rate Base At $2.09B; New Rates To Begin November 1, 2024
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The Oregon Public Utility Commission (OPUC) approved Northwest Natural's rate case, phasing out the line extension allowance by 2027, and ordered a $13.7M rate base reduction. The revenue requirement increases by $93.3M, with an adjusted rate base of $2.09B. New rates will begin on November 1, 2024.
October 29, 2024 | 4:48 pm
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The OPUC approved NW Natural's rate case, phasing out the line extension allowance by 2027, and ordered a $13.7M rate base reduction. Revenue requirement increases by $93.3M, with an adjusted rate base of $2.09B. New rates start November 1, 2024.
The approval of the rate case and the increase in revenue requirement by $93.3M is positive for NW Natural as it allows for higher future revenues. The phasing out of the line extension allowance and the $13.7M rate base reduction are offset by the overall increase in the rate base to $2.09B. The new rates starting in November 2024 will likely lead to increased earnings.
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