Northwest Gas Adjusts Revenue Increase and Earnings Guidance

Northwest Gas ( (NWN) ) has provided an announcement.

Northwest Natural Gas Company, a subsidiary of Northwest Natural Holding Company, sought a $154.9 million annual revenue increase in their rate case with Oregon’s Public Utility Commission, but after negotiations and stipulations, the increase was adjusted to $93.3 million. This adjustment was influenced by a downward revision in undepreciated line extension costs, leading to a non-cash charge affecting earnings per share. New rates are set to begin on November 1, 2024, with NW Holdings revising its 2024 earnings guidance accordingly.

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