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  "documentTitle": "NW Natural Holdings | Fixed Income Presentation Deck | 42 slides",
  "authorId": "nw-natural-holdings",
  "authorName": "NW Natural",
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  "presentationDate": "2023-06-01 00:00:00",
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      "text": "NW Natural®",
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      "text": "OREGON Weather Normalization (WARM)\nStabilizes collection of fixed costs for residential and commercial customers\nAdjusts billings based on temperature variances compared to average weather\nApplied from December through mid-May of each heating season",
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      "text": "OREGON • WASHINGTON Environmental Cost Recovery\nRecovers environmental costs for sites attributable to each state at a rate of 96.68% in Oregon and 3.32% in Washington\nCosts are subject to an annual prudence review in both Oregon and Washington, and in Oregon an earnings test¹\nAllows for deferral of environmental costs in both Oregon and Washington, and in Oregon the accrual of carrying costs",
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      "text": "OREGON Decoupling\nBreaks link between earnings and consumption by removing incentive to increase usage\nEmploys use-per-customer decoupling calculation, which adjusts margin revenues to account for the difference between actual and expected customer volumes",
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      "text": "OREGON • WASHINGTON Purchased Gas Adjustment (PGA)\nAdjusts annual rates to reflect changes in expected cost of gas commodity purchases\nIncludes spot purchases, contract supplies, derivatives, storage inventories, and for Oregon gas reserves\nIncludes temporary rate adjustments amortizing deferred regulatory account balances",
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      "text": "OREGON RNG Automatic Cost Recovery\nAllows renewable natural gas project costs to be added to rates annually on November 1st\nProvides for a mechanism for NW Natural to defer the difference between forecasted and actual RNG costs\nCosts are subject to an earnings test that includes deadbands at 50 basis points below and above NW Natural's authorized ROE",
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      "text": "1 To the extent the utility earns more than its authorized ROE in Oregon in a year, the utility is required to cover environmental expenses and interest on expenses greater than $10 million (plus interest from insurance proceeds) with those earnings that exceed its authorized ROE",
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      "kind": "title",
      "text": "SUPPORTIVE MECHANISMS",
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      "matchId": "2596c4ed-ac2c-49dc-896e-60b5426b3ef3",
      "evidence": "The document weaves a narrative around NW Natural's commitment to environmental stewardship and its conservative strategy, positioning it for long-term success.",
      "position": 1,
      "objective": "Why should investors care about NW Natural's environmental initiatives?",
      "structure": "The Why (Belief) -> The How (Process) -> The What (Result)",
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