Idaho Public Utilities Commission approves natural gas utility’s application to reduce rates

BOISE, Idaho (KIFI) – The Idaho Public Utilities Commission recently approved Intermountain Gas Company’s application that will reduce rates for most customers, including residential and commercial customers.

The new rates will reduce the utility’s annualized revenues collected through the Purchased Gas Adjustment by about $86.9 million. Intermountain Gas said a typical residential customer will see a monthly decrease of $11.96 and a typical commercial customer will see a monthly decrease of $72.88.

The utility’s rates include a base-rate component and a gas-related cost component. The base-rate component is intended to cover Intermountain Gas’ fixed costs to serve its customers. These include costs for equipment and facilities to provide service. The Purchased Gas Adjustment—gas-related costs—allows the utility to adjust rates up or down to reflect changes in the costs to purchase natural gas. This includes changes in transportation, storage, and other related costs.

The rate reduction will be in effect until Sept. 30, 2024.