Natural gas rates could increase by historic amounts this fall (Pacific Northwest)

[depakid]

Northwest Natural Gas Co. estimates that it will have to seek residential rate increases of 35 percent to 40 percent beginning Nov. 1 to cover rapidly rising commodity costs.

The rate jump would be the biggest on the company's books and possibly for any company, and advocates for low-income ratepayers said such a move would be highly damaging. The increase would come in time for the high-demand cool-weather season.

NW Natural and several other natural gas companies updated the Oregon Public Utility Commission about their expectations for rate requests covering 2009 during a hearing this afternoon in Salem.

With 650,000 customers in Oregon and Southwest Washington, NW Natural is the dominant provider of natural gas in the region. The company said it would not be able to narrow in on a more specific rate-increase target until September, when it secures its 2009 supplies.

Cascade Natural Gas Corp., based in Seattle, projected that it would request rate increases in the 15-20 percent range, while Vista Corp. forecast 10-15 percent.

http://blog.oregonlive.com/breakingnews/2008/07/historically_high_rate_hikes_a.html
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And in earlier news today...

Bradwood Landing LNG vote delayed

Federal energy regulators have decided to delay a vote on the controversial Bradwood Landing liquefied natural gas terminal on the Columbia River.

The Federal Energy Regulatory Commission, facing heavy pressure form Oregon's governor and congressional leaders and an outcry from opponents of the project, said today that it was striking the project from the commission's agenda on Thursday.

The agency said that before issuing a licensing decision on the terminal, it needed time to review comments on the agency's final environmental impact statement submitted by members of the public and Oregon leaders.

Tamara Young-Allen, a spokeswoman for the agency, said FERC could issue an order on the project at any time and would not necessarily have to wait for the commission's next meeting on Sept 18.

More: http://blog.oregonlive.com/breakingnews/2008/07/ferc_delays_bradwood_landing_l.html
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:tinfoilhat:

[madeline_con]

1. So Barnett Shale and Marcellus are tapped out?

This sounds like the "hard freeze damage" that always seems to hit the FL citrus industry, just in time to drive up the price of o.j.

On edit: Let me clarify. Texas, the Appalachain region and N. Dakota are all abuzz about their natural gas deposits, jobs and opportunities for investors. Don't let stories like this fool you. Call them on it. Contact your rep, the gas provider or do whatever it takes.

[bbinacan]

4. Barnett and Marcellus

aren't even close to being tapped out. I'm doing land acquisition for a pipeline in the heart of the Barnett and am heading to a new project in the Marcellus this fall.

[WHEN CRABS ROAR]

2. Ahh and aren't we looking to build those new LNG terminals, hmm

[bhikkhu]

7. I believe the problem there is there are no sellers

Or no one who really wants to package that product and ship it over here, when there is abundant demand in Eurasia.

On edit: or that could be completely wrong. In the process of trying to look for my original source of the above notion, I came across this projection of ten years of oversupply, if all liquification projects go forward:

http://www.petroleum-economist.com/default.asp?page=14&PubID=46&ISS=8663&SID=324774

I suppose in the NW that still leaves us out, lacking ports.

[kestrel91316]

3. It's pretty clear my retirement home is gonna have to be a

tiny little Thoreau cabin with R-40 insulation and no running water or electricity (well, maybe a single solar panel and battery for the computer, lol).

That's ok. As long as I have room for chickens and a nice garden and orchard......

[depakid]

6. Beats trying to heat one of these

Ticky tack McMansions in Central Oregon:

[kestrel91316]

8. That looks like a church, not a house.

[bbinacan]

5. Take a look at your second

link. That is precisely why gas prices are going up. Not enough supply.