Avista Utilities is requesting a 7.9 percent decrease in natural gas rates for Idaho customers and a 1.4 percent decrease for electric users.
Customers would see the decreases on Oct. 1 if the Idaho Public Utilities Commission (IPUC) approves several annual rate adjustment requests filed on Tuesday by Avista.
There is no impact on company earnings from any of the proposed adjustments.
"Each year, we propose to adjust rates our customers pay so that customers' bills reflect our actual costs of purchasing natural gas and generating and purchasing electric power," said Dennis Vermillion, president of Avista Utilities. "Today's requested rate reductions are due to, among other things, lower natural gas prices and lower power supply costs, which is good news for our customers."
If approved, it would be the second natural gas price reduction this year for Avista's Idaho customers, resulting in a decrease by more than 14 percent overall in 2012. Natural gas rates decreased 6 percent in March.
"Abundant supplies of natural gas and continued soft demand for the commodity have continued to keep wholesale natural gas prices at lower levels over the past year," a press release states.
If the requests are approved, residential electric customers in Idaho using an average of 939 kilowatt hours per month would see their monthly bills decrease from $80.55 to $79.46, a decrease of $1.09 per month, or 1.4 percent. Residential natural gas customers using an average of 60 therms a month would see a $4.42, or 7.9 percent, decrease in their monthly rate for a revised monthly bill of $51.36.
Copies of Avista's applications are available at www.puc.idaho.gov. The IPUC will seek public input on the requests.