Utilities plan rate increases as costs soar (Oregon)

http://www.tradingmarkets.com/.site/news/Stock%20News/1759992/

Some utilities serving Central Oregon are planning rate increases to cover their rising costs, meaning consumers already grappling with higher gasoline and food prices can expect to add electricity and natural gas to the list.

Both Cascade Natural Gas Corp. and Pacific Power are planning rate increases that are scheduled to take effect in November and January, respectively. Cascade Natural Gas plans to raise rates by at least 15 percent. Pacific Power's increase is expected to be at least 4.4 percent.

The local price increases for electricity, though, are not expected to be as large as average national electricity prices, which are likely to increase almost 10 percent next year, according to a U.S. Department of Energy report released last week. The bump is primarily because of increases in the price of coal and natural gas used to generate electricity in large swaths of the country.

Pacific Power met with the Citizens' Utility Board on Thursday to review the 4.4 percent price increase the company requested in April. Pacific Power will adjust that figure when it files a new request July 25, said Bob Jenks, executive director of the board.

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It was almost 30% more than the month before. :grr: