Over 219,000 Avista natural gas customers in Washington and Idaho will see their rates decrease beginning today by 8.1 and 6.7 percent respectively. The utility commissions in both states quickly approved the company’s request to lower natural gas rates for the second time this year because of declining wholesale prices.
“This decrease is good news for our customers during these tough times. We’re now purchasing natural gas for the next heating season and if wholesale prices continue at current levels, we hope to reduce rates again this fall when our Purchased Gas Cost Adjustment (PGA) is filed,” said Kelly Norwood, Avista vice president of state and federal regulation.
A PGA filing is typically made once a year in the fall to true-up the difference between the natural gas price included in customer rates and the cost of the gas Avista purchased to serve customers.
With the new lower rates in effect, a residential customer in Washington using an average of 70 therms per month will see a decrease of $7.02, or 8.1 percent, for a revised monthly bill of $79.43. An Idaho customer using an average of 65 therms per month will see a $5.26, or 6.7 percent, decrease for a revised monthly bill of $72.97.
The wholesale cost of natural gas is a major driver in the price customers pay on their monthly bill. About 75 percent of a residential customer’s bill is the cost of the natural gas, which is passed through directly to customers without mark up.
Avista offers a number of rebates and incentive programs to help residential, commercial and industrial customers manage their costs through reduced energy use. Some residential efficiency improvements may also qualify for Federal energy tax credits. Information on Avista’s energy efficiency programs and low- and no-cost energy saving ideas is available at www.everylittlebit.com.
Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is our operating division that provides service to 355,000 electric and 315,000 natural gas customers in three Western states. Avista’s primary, non-regulated subsidiary is Advantage IQ. Avista stock is traded under the ticker symbol “AVA.” For more information about Avista, please visit www.avistacorp.com.
Avista Corp. and the Avista Corp. logo are trademarks of Avista Corporation.
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