Citing declines in the wholesale price of natural gas, Cascade Natural Gas Corporation announced this week it has filed a reduced price adjustment request with the Washington Utilities and Transportation Commission.
If approved, the gas utility's request would save residential customers nearly 5 percent on their natural gas bills.
"Wholesale natural gas prices decreased again, which allows us to offer our Washington customers a rate decrease," said Frank Morehouse, executive vice president and general manager for Cascade. "Increased domestic production and ample supplies in storage are key reasons natural gas prices have remained low across the country. It's a good time to be a natural gas customer."
The request, coupled with an additional one-year rate reduction submitted to the Washington Utilities and Transportation Commission last week, means a typical residential customer would see a reduction of $3.76 a month, or 6.49 percent.
A typical commercial customer would see a decrease of $18.85 a month, or a 7 percent decrease.
The cost of gas, which makes up the largest part of a customer's bill, is a straight pass through to the customer; the utility cannot make a profit on the cost of gas.
The proposed rate reduction is expected to go into effect on Nov. 1, 2012.