Natural gas customers face massive rate increases under cap and trade

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Natural gas customers face massive rate increases under cap and trade

NW Natural says customers face big rate increases under new climate policy

Excerpt from The Oregonian/OregonLive

Northwest Natural on Wednesday released a two-page summary of the impacts it foresees, an analysis one lobbyist described as “a cap and trade bombshell.”

The company estimates that in the first year the bill would take effect, 2021, it would increase prices for residential customers by 11 percent ($74 annually), for small commercial customers by 13 percent ($338 annually) and industrial customers by 28 percent (it didn’t provide dollar figures for industrial rate increases). By 2040, with the number of allowances being auctioned far lower, the rate impact would grow to 53 percent ($567 annually) for residential customers, 60 percent for small commercial ($2,965) and 117 percent for industrial customers, Northwest Natural projects.

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Statement from Partnership for Oregon Communities in response to latest cap and trade cost increase estimates

“The release of this report today makes crystal clear that cap and trade will break family budgets and place tremendous financial pressure on employers across the state. Under HB 2020 Oregonians would face a 53% increase to heat their homes, a fact that seems particularly relevant during this cold streak.

“It is completely unreasonable to expect Oregon employers to be able to compete in regional and global markets if their energy costs increase by 117%. This program would inevitably drive good-paying jobs out of all parts of Oregon and jeopardize the long-term economic health of our state.

“It’s hard to overstate how much this program could cost Oregonians and how much harm could be caused by its passage.”

This statement may be attributed to Preston Mann, spokesman for Partnership for Oregon Communities.

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