Cascade Natural Gas customers in northern Snohomish County will see heating bills go up by 24 percent in November, while Puget Sound Energy, which serves the rest of the county, won approval for a much smaller rate increase on Wednesday.
For the typical residential customer of Cascade Natural Gas, the increase means monthly bills will rise an average of $14.21 a month to $72.81, the company said.
Jon Stoltz, Cascade Natural’s vice president of gas supply and regulatory affairs, said the increase is necessary to cover the rising wholesale cost of natural gas. The company isn’t allowed to earn a profit on the rate increase, which the Washington Utilities and Transportation Commission approved Wednesday morning.
He said the new rate should be enough to carry Cascade through the winter.
“We certainly hope so,” Stoltz said. “About 90 percent of our supplies are locked in on price now. As long as the market doesn’t go crazy and go up again, we should be fine.”
Cascade Natural Gas serves customers in Island County and northern Snohomish County, including Arlington and Stanwood.
Puget Sound Energy, which serves the bulk of Snohomish County, also won approval of a rate increase of 48 cents a month. The increase raises money to make up for a tax deduction that recently was disallowed by the Internal Revenue Service.
On Oct. 1, PSE customers saw a 13 percent rate increase, which raised the average monthly bill by $11.31 a month to $96.54. PSE estimates its average household cost based on monthly usage of 80 therms, while Cascade Natural says its customers use 57 therms of natural gas a month on average.
Reporter Eric Fetters: 425-339-3453 or fetters@heraldnet.com.
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