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News Breaks | | | | October 29, 2012 | | 07:27 EDT |  | NWN | Oregon Commission approves key mechanisms in NW Natural rate case decision
Northwest Natural Gas Co., dba NW Natural, announced that the Public Utility Commission of Oregon, or OPUC, issued a Preliminary Order regarding the company's application for a General Rate Revision, or Docket UG-221, that was filed in December of last year. A final order presenting the Commission's rationale for its decisions is expected to be released later this week. In the Order, the Commission determined that NW Natural's annual revenue requirement should be increased $8.7M or 1.2%, with an allowed rate of return on rate base of 7.78% and an allowed return on equity of 9.5%. However, this increase includes recovery of amounts that had previously been deferred through the company's decoupling mechanism of about $15M. As a result, the overall effect on the company is a decline in net operating revenues of approximately $6M on an annualized basis. For 2012, the company estimates the impact of lost margin to be between $2M-$3M. The company's capital structure was approved at 50% equity and 50% long-term debt. As part of the Order, the Commission approved a new Site Remediation and Recovery Mechanism, or SRRM. The company expects the SRRM to result in an additional 1%-3% rate increase once implemented. | |
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