Natural gas rates fall

Natural gas rates fall

Oregon homeowners can expect a reduction in natural gas rates this fall and winter.

The state’s natural gas providers, including NW Natural, Cascade Natural and Avista Utilities, told the Oregon Public Utility Commission on Thursday that they expect to lower their prices this fall. The companies will submit filings with the PUC by Aug. 31, requesting rate reductions that will take effect Nov. 1

Much of the reduction in price stems from an increase in supply, due to dampened demand because of the slow economy, and an increase in gas derived from underground shale rock formations. Advancements in hydraulic fracturing, also known as “fracking,” have enabled drillers to tap gas from shale more economically, providing a new affordable supply.

Read more at The Portland Tribune.

{biztweet}natural gas oregon{/biztweet}