This excerpt taken from the NWN 8-K filed Sep 21, 2007.
On September 20, 2007, Northwest Natural Gas Company (the Company or NW Natural) announced that it has received approval from the Public Utility Commission of Oregon to extend the Companys weather normalization mechanism and the Companys conversation tarriff, commonly referred to as a decoupling mechanism, until October 31, 2012. As part of a stipulated agreement between NW Natural, commission staff, and various customer and environmental groups, the parties agreed to extend both mechanisms and for NW Natural to not file a general rate case prior to September 1, 2011, with certain agreed upon exceptions for extraordinary events that would require NW Natural to make significant investments on behalf of ratepayers. The agreement not to file a general rate case does not affect the Companys ability to seek annual rate adjustments under the existing purchased gas adjustment mechanism in Oregon.
The press released dated September 20, 2007 is attached as Exhibit 99.1.