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NorthWestern Energy Announces Settlement Agreements in Montana Electric and Natural Gas Regulatory Rate Review
BUTTE, Mont. & SIOUX FALLS, S.D.--(BUSINESS WIRE)-- NorthWestern Energy Group, Inc. d/b/a NorthWestern Energy (Nasdaq: NWE) reached settlement agreements in
About this update from Northwestern Energy Group, Inc.
[{"type":"text","content":" BUTTE, Mont. & SIOUX FALLS, S.D.--(BUSINESS WIRE)--\nNorthWestern Energy Group, Inc. d/b/a NorthWestern Energy (Nasdaq: NWE) reached settlement agreements in its Montana electric and natural gas regulatory rate review with the Montana Consumer Counsel, which represents consumers in hearings before the Montana Public Service Commission, the Montana Large Customer Group, which includes Ash Grove Cement Company, Calumet Montana Refining, Enbridge (U.S.) Inc., GCC, Par Montana, Phillips 66, REC Silicon Inc., and Stillwater Mining Company, the Federal Executive Agencies, which includes Malmstrom Air Force Base and other federal agencies with offices in NorthWestern Energy’s Montana service area, and Walmart Inc., which has 16 retail stores and 4,900 employees in Montana.\n\nCustomer Bill Impact\n\nNatural Gas Settlement: If approved by the Montana Public Service Commission, a typical natural gas residential customer using 65 therms per month would see a monthly bill increase of $4.74, or 9.14% from rates on July 1, 2024.\n\nPartial Electric Settlement: If the electric settlement and NorthWestern’s proposals for the new generation resource, the Yellowstone County Generating Station, state property taxes and supply costs are approved, a typical electric residential customer would see a monthly bill increase of $4.63, or 4.21% from rates on July 1, 2024.\n\nStatement from NorthWestern Energy\n\n“Our customers deserve the most reliable energy service available,” said NorthWestern Energy President and Chief Executive Officer Brian Bird. “Our employees work every day to deliver this service safely, 24 hours a day, 365 days a year, while keeping bills as low as possible. The cost of delivering safe, reliable energy includes maintaining a vast natural gas and electric infrastructure network.\n\nWe are pleased that the parties in these constructive settlements prioritized the best interests of our customers. These agreements ensure that NorthWestern Energy can continue making the necessary energy system investments for safe and reliable energy service for our communities.”\n\nFinancial Impact\n\nIf approved, the settlement agreements are expected to increase annual natural gas base revenues by approximately $18 million and increase annual electric base revenues, excluding Yellowstone County Generating Station, by approximately $66.4 million....