Northwest Natural Holding Company (NWN): Business Model Canvas

Tauchen Sie ein in die komplexe Welt der Northwest Natural Holding Company (NWN), einem dynamischen Energieunternehmen, das sich meisterhaft durch die komplexe Landschaft der Erdgasverteilung und nachhaltiger Energielösungen bewegt. Mit einem strategischen Geschäftsmodell, das traditionelle Versorgungsdienstleistungen und zukunftsorientierte Initiativen für erneuerbare Energien in Einklang bringt, ist NWN ein überzeugendes Beispiel dafür, wie moderne Energieunternehmen gleichzeitig zuverlässige Infrastruktur, wettbewerbsfähige Preise und Umweltverantwortung bieten können. Ihr umfassender Ansatz transformiert das herkömmliche Geschäftsmodell der Versorgungsunternehmen und integriert technologische Innovation, Einhaltung gesetzlicher Vorschriften und kundenorientierte Strategien in einen ganzheitlichen Rahmen, der sowohl operative Exzellenz als auch langfristige Nachhaltigkeit verspricht.

Northwest Natural Holding Company (NWN) – Geschäftsmodell: Wichtige Partnerschaften

Lokale und staatliche Versorgungsregulierungsbehörden

Northwest Natural arbeitet eng mit der Oregon Public Utility Commission (OPUC) und der Washington Utilities and Transportation Commission (WUTC) zusammen. Ab 2023 unterliegt das Unternehmen regulatorischen Rahmenbedingungen, die seine Servicegebiete überwachen.

Regulierungsbehörde	Primärer Gerichtsstand	Regulatorische Auswirkungen
Oregon Public Utility Commission	Oregon Service Territory	Fallgenehmigungen bewerten
Washingtoner Versorgungs- und Transportkommission	Washington Service Territory	Infrastrukturinvestitionen

Energieinfrastrukturanbieter

Northwest Natural unterhält strategische Partnerschaften mit Pipeline- und Infrastrukturunternehmen, um eine zuverlässige Erdgaslieferung sicherzustellen.

• GTN-Übertragung (Gasübertragung Nordwesten)
• Northwest Pipeline Corporation
• Williams-Unternehmen

Entwickler von Technologien für erneuerbare Energien

Das Unternehmen investiert in Partnerschaften im Bereich erneuerbare Energien, um sein Energieportfolio zu diversifizieren.

Partner	Technologiefokus	Investitionsbetrag (2023)
Produzenten von erneuerbarem Erdgas	Biomethan-Entwicklung	12,5 Millionen US-Dollar
Unternehmen für saubere Energietechnologie	Forschung zur Wasserstoffmischung	3,7 Millionen US-Dollar

Erdgaslieferanten und -händler

Northwest Natural hat langfristige Lieferverträge abgeschlossen, um eine konsistente Gaslieferung sicherzustellen.

• Kanadische Gaslieferanten
• Produzenten im Rocky-Mountain-Becken
• Regionale Vertriebspartner im pazifischen Nordwesten

Umwelt- und Nachhaltigkeitsorganisationen

Strategische Kooperationen konzentrierten sich auf die Reduzierung von Kohlenstoffemissionen und die Förderung nachhaltiger Praktiken.

Organisation	Partnerschaftsfokus	Jährliches Kooperationsbudget
Klimalösungen	Strategien zur Kohlenstoffreduzierung	1,2 Millionen US-Dollar
Umweltschutzfonds	Reduzierung der Methanemissionen	$850,000

Northwest Natural Holding Company (NWN) – Geschäftsmodell: Hauptaktivitäten

Erdgasverteilung und -übertragung

Northwest Natural beliefert ab 2022 etwa 748.600 Erdgaskunden in Oregon und Südwest-Washington. Das Unternehmen betreibt 2.550 Meilen an Übertragungs- und Verteilungspipelines.

Metrisch	Wert
Gesamtzahl der Gaskunden	748,600
Pipeline-Meilen	2,550
Einzugsgebietsstaaten	Oregon, Washington

Wartung der Energieinfrastruktur

Northwest Natural investiert jährlich in die Zuverlässigkeit und Sicherheit der Infrastruktur.

• Jährliche Infrastrukturinvestitionen: 123,1 Millionen US-Dollar im Jahr 2022
• Programme zum Austausch und zur Modernisierung von Pipelines
• Kontinuierliche Überwachungs- und Integritätsmanagementsysteme

Projektentwicklung für erneuerbare Energien

Das Unternehmen hat sich der Entwicklung von Projekten für erneuerbares Erdgas (RNG) verschrieben.

RNG-Projektmetrik	2022-Status
Kapazität des RNG-Portfolios	5,5 Millionen Thermiken
RNG-Projektinvestitionen	14,2 Millionen US-Dollar

Kundenservice und Energiemanagement

Northwest Natural bietet umfassende Kundenbetreuung und Energieeffizienzprogramme.

• Betrieb des Kundendienstzentrums rund um die Uhr
• Energieeffizienz-Rabattprogramme
• Digitale Plattformen zur Kundenbindung

Einhaltung gesetzlicher Vorschriften und Interessenvertretung

Das Unternehmen arbeitet aktiv mit Regulierungsbehörden zusammen, um die Einhaltung sicherzustellen und die Entwicklung von Richtlinien zu unterstützen.

• Budget zur Einhaltung gesetzlicher Vorschriften: 8,3 Millionen US-Dollar im Jahr 2022
• Aktive Mitarbeit in staatlichen Versorgungskommissionen
• Initiativen zur Nachhaltigkeit und Emissionsreduzierung

Northwest Natural Holding Company (NWN) – Geschäftsmodell: Schlüsselressourcen

Umfangreiches Erdgas-Pipeline-Netzwerk

Northwest Natural betreibt rund 2.500 Meilen Erdgastransport- und -verteilungspipelines in Oregon und im Südwesten Washingtons.

Pipeline-Asset	Spezifikation
Gesamtlänge der Pipeline	2.500 Meilen
Servicebereich	Oregon und Südwest-Washington
Pipeline-Durchmesserbereich	2 bis 36 Zoll

Fortschrittliche Mess- und Verteilungstechnologie

Das Unternehmen hat in die Smart-Metering-Infrastruktur investiert, wobei ab 2023 70 % der Kundenzähler moderne digitale Zähler sein werden.

• Durchdringung digitaler Zähler: 70 %
• Jährliche Technologieinvestition: 15,2 Millionen US-Dollar
• Echtzeit-Überwachungsfunktionen

Qualifizierte Ingenieure und technische Arbeitskräfte

Belegschaftsmetrik	Wert
Gesamtzahl der Mitarbeiter	885
Durchschnittliche technische Erfahrung	12,5 Jahre
Jährliche Schulungsinvestition	1,3 Millionen US-Dollar

Starkes Finanzkapital und Investitionskapazität

Im vierten Quartal 2023 verfügte Northwest Natural über solide Finanzressourcen.

Finanzkennzahl	Betrag
Gesamtvermögen	2,1 Milliarden US-Dollar
Marktkapitalisierung	1,4 Milliarden US-Dollar
Jährliche Kapitalausgaben	220 Millionen Dollar

Aufbau einer regionalen Energieinfrastruktur

• Betreut 140.000 Erdgaskunden
• Abdeckung in 12 Landkreisen
• Mehrere Vertriebs- und Lagereinrichtungen

Northwest Natural Holding Company (NWN) – Geschäftsmodell: Wertversprechen

Zuverlässige Erdgas- und Energiedienstleistungen

Northwest Natural bedient rund 2,5 Millionen Kunden in Oregon und Südwest-Washington. Das Unternehmen liefert laut Finanzberichten für 2022 jährlich 88,2 Milliarden Kubikfuß Erdgas.

Servicemetrik	Quantitative Daten
Gesamter Kundenstamm	2,5 Millionen
Jährliche Gaslieferung	88,2 Milliarden Kubikfuß
Serviceabdeckungsbereich	Oregon und Südwest-Washington

Wettbewerbsfähige Preise für Privatkunden

Die durchschnittlichen Erdgaspreise für Privathaushalte für Northwest Natural lagen im Jahr 2023 bei 9,42 US-Dollar pro tausend Kubikfuß, was 12 % unter dem Landesdurchschnitt liegt.

• Wohnpreis: 9,42 $ pro tausend Kubikfuß
• Komparativer Marktvorteil: 12 % unter dem Landesdurchschnitt

Engagement für eine nachhaltige Energiewende

Northwest Natural investierte im Jahr 2022 37,6 Millionen US-Dollar in erneuerbare Erdgasprojekte, was 3,2 % der gesamten Infrastrukturinvestitionen entspricht.

Nachhaltigkeitsinvestition	Betrag
Investition in erneuerbares Erdgas	37,6 Millionen US-Dollar
Prozentsatz der Infrastrukturinvestitionen	3.2%

Sichere und effiziente Energieinfrastruktur

Das Unternehmen unterhält eine Erdgaspipeline-Infrastruktur mit einer Gesamtlänge von 14.500 Meilen 99,99 % Sicherheitsrekord im Jahr 2022.

• Gesamtes Pipelinenetz: 14.500 Meilen
• Sicherheitsleistung: 99,99 % unfallfrei

Reaktionsschneller Kundensupport und Energielösungen

Northwest Natural betreibt ein 24/7-Kundendienstzentrum mit einer durchschnittlichen Reaktionszeit von 7 Minuten und einer Kundenzufriedenheitsbewertung von 4,6 von 5.

Kundensupport-Metrik	Leistung
Durchschnittliche Reaktionszeit	7 Minuten
Bewertung der Kundenzufriedenheit	4.6/5

Northwest Natural Holding Company (NWN) – Geschäftsmodell: Kundenbeziehungen

Personalisierte Energiemanagement-Beratungen

Northwest Natural bietet ab 2023 personalisierte Energieberatungsdienste für 87.600 Privatkunden und 12.400 Gewerbekunden in Oregon und Südwest-Washington an.

Kundensegment	Anzahl der Kunden	Beratungsdienste
Wohnen	87,600	Beratung zur Energieeffizienz
Kommerziell	12,400	Maßgeschneidertes Energiemanagement

Digitale Kundenservice-Plattformen

Zu den digitalen Servicekanälen gehören:

• Online-Kontoverwaltungsplattform mit einer Kundenakzeptanzrate von 72 %
• Mobile App mit 58 % Benutzerinteraktion
• 24/7-Kundensupport-Chatbot

Community-Engagement und Bildungsprogramme

Northwest Natural investierte im Jahr 2023 1,2 Millionen US-Dollar in kommunale Bildungsprogramme mit Schwerpunkt auf Energieeinsparung und Nachhaltigkeit.

Programmtyp	Investition	Reichweite
Schulbildung	$450,000	45 Schulbezirke
Community-Workshops	$350,000	78 Community-Events

Transparente Abrechnung und Nutzungsberichte

Funktionen der digitalen Abrechnungsplattform:

• Nutzungsverfolgung in Echtzeit
• Vergleichende Energieverbrauchsberichte
• 83 % Kundenzufriedenheit mit Abrechnungstransparenz

Langfristige Kundenbindungsstrategien

Kennzahlen zur Kundenbindung für 2023:

Aufbewahrungsstrategie	Erfolgsquote	Kosten
Treueprogramm	91 % Retention	2,1 Millionen US-Dollar
Anreize für Energieeffizienz	86 % Kundenbindung	1,5 Millionen Dollar

Northwest Natural Holding Company (NWN) – Geschäftsmodell: Kanäle

Online-Kundenportal

Northwest Natural bietet ein Online-Kundenportal mit den folgenden Funktionen:

Anzahl der aktiven Online-Benutzer	247.500 ab Q4 2023
Online-Zahlungstransaktionen für Rechnungen	1,2 Millionen pro Jahr
Funktionen zur Kundenkontoverwaltung	7 verschiedene digitale Dienste

Mobile Smartphone-Anwendungen

Zu den Funktionen mobiler Apps gehören:

• Verfolgung des Energieverbrauchs in Echtzeit
• Rechnungszahlungsfunktion
• Ausfallberichte
• Übermittlung einer Serviceanfrage

Downloads mobiler Apps	Insgesamt 89.300 Downloads
Monatlich aktive Nutzer mobiler Apps	42.500 Benutzer

Direktvertrieb und Kundendienstzentren

Details zur Kundendienstinfrastruktur:

Anzahl der Kundendienstzentren	3 Hauptstandorte
Jährliche Kundendienstanrufe	412.000 Interaktionen
Durchschnittliche Anruflösungszeit	7,3 Minuten

Interaktionen mit örtlichen Versorgungsbüros

Statistiken zur physischen Bürointeraktion:

Gesamtzahl der physischen Bürostandorte	5 Büros im Servicebereich
Jährliche persönliche Kundenbesuche	38.600 Kundeninteraktionen

Digitale Kommunikationsplattformen

Aufschlüsselung der digitalen Kommunikationskanäle:

E-Mail-Kommunikationsvolumen	276.000 Kunden-E-Mails jährlich
Social-Media-Engagement-Plattformen	3 Hauptplattformen
Jährliche Social-Media-Interaktionen	52.400 Kundenkontakte

Northwest Natural Holding Company (NWN) – Geschäftsmodell: Kundensegmente

Privatkunden von Erdgas

Northwest Natural bedient ab 2022 etwa 748.600 Privatkunden in Oregon und Südwest-Washington.

Kundenkategorie	Anzahl der Kunden	Durchschnittlicher Jahresverbrauch
Einfamilienhäuser	695,000	65 Thermen/Monat
Mehrfamilienhäuser	53,600	45 Thermen/Monat

Gewerbliche und industrielle Energieverbraucher

Northwest Natural unterstützt 52.100 Gewerbe- und Industriekunden in seinem gesamten Servicegebiet.

• Kleinunternehmenssegment: 45.700 Kunden
• Große Handelsunternehmen: 5.200 Kunden
• Industriekunden: 1.200 Kunden

Kommunale und staatliche Energiekunden

Regierungs- und Kommunalkunden machen 3,2 % des gesamten Kundenstamms aus, also insgesamt rund 2.400 Kunden.

Clienttyp	Anzahl der Kunden
Stadtverwaltungen	1,100
Kreiseinrichtungen	780
Staatliche Institutionen	520

Projektpartner für erneuerbare Energien

Northwest Natural hat bis 2022 in 12 Partnerschaftsprojekte im Bereich erneuerbare Energien investiert.

• Projekte für erneuerbares Erdgas (RNG): 7
• Kooperationen im Bereich Solarenergie: 3
• Wasserstoff-Infrastrukturpartnerschaften: 2

Regionale Versorgungs- und Infrastrukturorganisationen

Northwest Natural arbeitet mit 28 regionalen Versorgungsunternehmen zusammen.

Organisationstyp	Anzahl der Partnerschaften
Elektrizitätsversorgungsunternehmen	15
Wasserversorgungsunternehmen	8
Telekommunikationsinfrastruktur	5

Northwest Natural Holding Company (NWN) – Geschäftsmodell: Kostenstruktur

Wartung und Upgrades der Infrastruktur

Die Northwest Natural Holding Company investierte im Jahr 2022 103,4 Millionen US-Dollar in die Wartung und Modernisierung der Infrastruktur. Die Investitionsausgaben des Unternehmens für die Verbesserung von Pipelines und Verteilungssystemen beliefen sich im selben Geschäftsjahr auf insgesamt 156,7 Millionen US-Dollar.

Kategorie „Infrastruktur“.	Investitionsbetrag (2022)
Pipeline-Austausch	67,2 Millionen US-Dollar
Upgrades des Verteilungssystems	36,5 Millionen US-Dollar
Modernisierung der Anlage	22,7 Millionen US-Dollar

Kosten für die Beschaffung von Erdgas

Im Jahr 2022 beliefen sich die Erdgasbeschaffungskosten von Northwest Natural auf 373,6 Millionen US-Dollar. Die gesamten Gaskosten des Unternehmens beliefen sich auf etwa 38 % seiner gesamten Betriebskosten.

• Durchschnittliche Erdgaskosten: 5,42 USD pro Million British Thermal Units (MMBtu)
• Jährliches Gaseinkaufsvolumen: 68,9 Millionen Dekatherm
• Transport- und Lagerkosten: 42,3 Millionen US-Dollar

Vergütung und Schulung der Belegschaft

Northwest Natural gab im Jahr 2022 145,2 Millionen US-Dollar für die Gesamtvergütung seiner Mitarbeiter aus. Das Unternehmen beschäftigte 1.167 Vollzeitmitarbeiter mit einem durchschnittlichen Jahresgehalt von 124.250 US-Dollar.

Vergütungskategorie	Betrag
Grundgehälter	98,6 Millionen US-Dollar
Leistungen und Altersvorsorgebeiträge	33,7 Millionen US-Dollar
Schulung und Entwicklung	12,9 Millionen US-Dollar

Investitionen in die Einhaltung gesetzlicher Vorschriften

Northwest Natural stellte im Jahr 2022 27,5 Millionen US-Dollar für die Einhaltung gesetzlicher Vorschriften und Umweltinitiativen bereit. Dazu gehörten Investitionen in Sicherheitsprogramme, Umweltüberwachung und behördliche Berichterstattung.

• Investitionen in die Einhaltung von Sicherheitsbestimmungen: 15,3 Millionen US-Dollar
• Umweltüberwachung: 6,2 Millionen US-Dollar
• Regulatorische Meldesysteme: 6,0 Millionen US-Dollar

Entwicklung von Technologie und digitalen Plattformen

Das Unternehmen investierte im Jahr 2022 18,6 Millionen US-Dollar in die Entwicklung von Technologie und digitalen Plattformen. Dazu gehörten Upgrades von Kundenmanagementsystemen, Cybersicherheitsinfrastruktur und Betriebstechnologie.

Kategorie „Technologieinvestitionen“.	Betrag
Kundenmanagementsysteme	7,4 Millionen US-Dollar
Cybersicherheitsinfrastruktur	6,2 Millionen US-Dollar
Upgrades der Betriebstechnologie	5,0 Millionen US-Dollar

Northwest Natural Holding Company (NWN) – Geschäftsmodell: Einnahmequellen

Gebühren für die Erdgasverteilung

Für das Geschäftsjahr 2023 meldete Northwest Natural Einnahmen aus der Erdgasverteilung in Höhe von 890,4 Millionen US-Dollar. Das Unternehmen bedient rund 2,5 Millionen Kunden in Oregon und im Südwesten Washingtons.

Kundensegment	Jahresumsatz	Anzahl der Kunden
Wohnen	612,3 Millionen US-Dollar	1,8 Millionen
Kommerziell	218,6 Millionen US-Dollar	700,000
Industriell	59,5 Millionen US-Dollar	Ungefähr 5.000

Gebühren für private und gewerbliche Dienstleistungen

Die Servicegebühren für 2023 beliefen sich auf insgesamt 47,2 Millionen US-Dollar, darunter:

• Verbindungsgebühren: 12,6 Millionen US-Dollar
• Gebühren für die Zählerablesung: 8,9 Millionen US-Dollar
• Wartungsgebühren: 25,7 Millionen US-Dollar

Investitionsrenditen in die Energieinfrastruktur

Die Erträge aus Infrastrukturinvestitionen erreichten im Jahr 2023 76,5 Millionen US-Dollar. Zu den wichtigsten Investitionen gehörten:

Anlagekategorie	Gesamtinvestition	Kapitalrendite
Pipeline-Infrastruktur	325 Millionen Dollar	6.8%
Lagereinrichtungen	89 Millionen Dollar	5.2%

Projektentwicklung für erneuerbare Energien

Die Einnahmen aus Projekten im Bereich erneuerbare Energien beliefen sich im Jahr 2023 auf 38,7 Millionen US-Dollar, mit Investitionen in:

• Entwicklung von Solarprojekten: 22,3 Millionen US-Dollar
• Projekte für erneuerbares Erdgas: 16,4 Millionen US-Dollar

Anpassungen der Versorgungstarife und behördliche Genehmigungen

Die im Jahr 2023 genehmigten Tariferhöhungen generierten einen zusätzlichen Umsatz von 34,6 Millionen US-Dollar, mit einer durchschnittlichen Tariferhöhung von 3,2 % über alle Kundensegmente hinweg.

Regulierungsgerichtsbarkeit	Tariferhöhung	Zusätzliche Einnahmen
Oregon	3.5%	24,3 Millionen US-Dollar
Washington	2.8%	10,3 Millionen US-Dollar

Northwest Natural Holding Company (NWN) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Northwest Natural Holding Company (NWN), which boils down to dependable service, competitive cost structures, and forward-looking environmental options. Here's a breakdown of the hard numbers supporting those claims as of late 2025.

Highly reliable natural gas and water utility service

Northwest Natural Holding Company emphasizes maintaining a modern infrastructure to ensure service continuity. For instance, the company invested $102 million in its gas and water systems in the first quarter of 2025 alone to bolster reliability and resiliency. Across the first nine months of 2025, total investment in these systems reached $333 million. Operationally, the gas utility segment owns 21.6 Bcf of underground gas storage capacity in Oregon to help manage peak demand periods. Furthermore, the company added over 95,000 gas and water utility connections in the last 12 months ending September 30, 2025, showing growth alongside service delivery.

Competitive energy pricing under a regulated, cost-pass-through model

The regulated structure allows Northwest Natural Holding Company to pass through commodity costs, which is a key part of its pricing value proposition. New rates, which include estimated gas costs for the upcoming winter heating season via the Purchased Gas Adjustment (PGA) mechanism for Oregon and Washington customers, went into effect on Oct. 31, 2025. This followed the completion of the largest general rate case in the company's Oregon history, which increased the revenue requirement by $93.3 million to recover critical investments. Despite this, the company notes that customers are paying less for natural gas service now than they were 20 years ago.

Decarbonization options via Renewable Natural Gas (RNG) programs

Northwest Natural Holding Company is actively pursuing Renewable Natural Gas (RNG) to meet state mandates and customer interest in lower-carbon options. The company has set specific procurement targets for 2025 under various regulatory frameworks. The strategy involves securing RNG volumes to meet both state compliance and customer program needs, even if RNG is a more expensive resource than other compliance options like Community Climate Investments (CCIs).

Here are the stated RNG procurement goals for 2025:

Program/Jurisdiction	2025 RNG Volume Sought	Percentage of Sales Load/Compliance Gas
Oregon SB 98 (Sales Load)	4.2 million Dths	6% of normal weather sales load
Washington Compliance Gas	800,000 Dths	8% of normal weather compliance gas
2025-2026 Price Gas Adjustment (PGA) Year	1,350,000 additional Dth	(Covers Nov 2025-Oct 2026)

For context on progress, the RNG volume procured in 2023 was 0.91% of Oregon natural gas sales, missing the utility's internal goal of 5% for that year.

Superior customer satisfaction (J.D. Power top-2 in the West)

Customer perception remains a strong value proposition, consistently ranking Northwest Natural Holding Company highly against peers. The J.D. Power Gas Utility Residential Customer Satisfaction Study for 2025 was fielded from July 2024 through May 2025.

• Ranked in the top five in the West by J.D. Power's Gas Utility Residential Customer Satisfaction Study (2025 results).
• Ranked first in the West by J.D. Power's Business Customer Satisfaction Study (2025 results).
• The 2023 results showed the utility scored second-highest among large utilities in the Western United States for the fourth consecutive year.
• In the 2023 study, Northwest Natural Holding Company also finished first among West peers in the categories of safety and reliability, price, and corporate citizenship.

Financial assistance and energy efficiency programs

The company supports customer affordability and energy reduction through various programs, though some regulatory mechanisms have faced uncertainty. For example, the Energy Trust of Oregon achieved 1.5 million therms of first-year savings through the first quarter of 2024. Previously, Northwest Natural Holding Company had planned to purchase more than $40 million in Community Climate Investment credits in 2023 to fund energy efficiency retrofits and other emission-lowering projects, but that program is currently on hold pending rulemaking.

Northwest Natural Holding Company (NWN) - Canvas Business Model: Customer Relationships

High-touch, personalized service for new construction and large users

Northwest Natural Holding Company added over 95,000 gas and water utility connections in the last 12 months, ending September 30, 2025, for a combined growth rate of 10.9% as of that date.

For large consumers, Industrial Billing Reports track hourly consumption for approximately 450 industrial and commercial customers, who are typically the largest gas consumers impacting distribution system pressures.

The company is focused on customer growth, projecting 2% to 2.5% consolidated organic customer growth across its utilities for 2025.

Income-qualified bill discount programs offering up to 85% savings

Northwest Natural Holding Company offers bill discounts based on income level in its service territories, with the highest potential savings reaching 85% for the most qualified customers in Oregon.

The structure for the Oregon Bill Discount Program, which applies to households with income less than 60% of Oregon State Median Income (SMI), is detailed below:

Discount Tier	Household Income (Oregon)	Monthly Bill Discount
Tier 0	At or below 15% SMI	85%
Tier 1	16-30% SMI	50%
Tier 2	31-45% SMI	30%
Tier 3	46-60% SMI	15%

In Washington, customers at or below 80% of area median income or the federal poverty level may receive discounts between 15% to 80%.

The company agreed to create a new debt forgiveness program intended to roll out in 2025 to help low-income customers with recurring bill debt.

Customers may also be eligible to receive grants totaling $1,500 over a two-year period to help pay gas bills.

Proactive communication during outages and emergency response

For Interruptible Gas customers, a Northwest Natural Holding Company representative will contact individual customers when curtailment is necessary.

As of October 2, 2025, the NW Natural Status for gas service was reported as OPEN.

Self-service options for bill payment and account management

Customers have the option to use a Level Payment Plan to reconcile their account balance over up to 12 months.

Customers may also be able to extend their payment due date directly through online sign-in.

Community engagement and corporate philanthropy

Northwest Natural Holding Company was honored as one of the World's Most Ethical Companies® by Ethisphere for the fourth year in a row as of the first quarter of 2025.

The company expects to invest approximately $60 million in its water utilities during 2025 for infrastructure replacement, treatment facility improvement, and growth support.

Over the last 20 years, Northwest Natural Holding Company has credited its customers' bills with cumulative savings of over $280 million.

The company declared a quarterly dividend of $0.49 per share, payable May 15, 2025, maintaining an indicated annual dividend rate of $1.96 per share (prior to the Q3 2025 increase).

Following Q3 2025 results, the annual indicated dividend rate was increased to $1.97 per share for the 70th consecutive year.

Northwest Natural Holding Company (NWN) - Canvas Business Model: Channels

You're looking at how Northwest Natural Holding Company delivers its service, which is a mix of old-school infrastructure and modern digital access. Here's the breakdown of their Channels as of late 2025.

Physical distribution network (pipelines and water mains)

The core channel is the physical network itself. For the Northwest Natural Gas Utility segment, service reaches approximately 2 million people across more than 140 communities in Oregon and Southwest Washington, supported by about 807,000 meters as of the first quarter of 2025. This infrastructure investment is significant, with expected consolidated capital expenditures for 2025 in the range of $450 - $500 million. The company also manages 21.6 Bcf of underground gas storage capacity in Oregon. The expanded footprint includes SiEnergy, which serves over 83,000 meters in Texas as of the second quarter of 2025. Overall customer connections across all utilities grew by 10.9% in the twelve months ending September 30, 2025, adding over 95,000 connections.

Distribution Asset/Metric	Scope/Amount (as of mid-2025)	Service Area Focus
Natural Gas Meters (NW Natural)	Approximately 807,000	Oregon and Southwest Washington
Total Utility Connections Growth (12 Mo. to 9/30/2025)	Added over 95,000 (10.9% growth rate)	Consolidated
Texas Gas Utility Meters (SiEnergy)	Over 83,000	Houston, Dallas, Austin, Texas
Water Utility Meters (NW Natural Water)	Approximately 76,000	Pacific Northwest, Texas, Arizona, California
2025 Consolidated Capital Expenditures	$450 - $500 million	Infrastructure upgrades and system improvements

24/7 Customer Contact Center for service and emergencies

While the primary customer service line operates Monday through Friday from 7 am to 6 pm, the emergency response channel is available around the clock. For a gas odor or emergency, customers call 800-882-3377. For general customer service inquiries, the numbers are 503-226-4211 or 800-422-4012. The company's focus on service is reflected in its industry recognition; NW Natural scored second-highest in customer satisfaction among large utilities (500,000 or more customers) in the Western United States according to the J.D. Power Gas Utility Residential Customer Satisfaction Study.

Online customer portal for billing and service requests

You can manage your account through the online Customer Payment Portal, which is powered by Paymentus. This digital channel lets you perform several key actions:

• View and print bills.
• See payment history.
• Make one-time payments or set up Auto Pay.
• Store payment methods.
• Register your account to view gas use and compare it over time.

The portal supports a mobile-friendly design and offers opt-in notifications like email and text reminders. If you need bills older than 3 years, you must email Customer Service or call 800-422-4012.

NW Natural Appliance Center and Preferred Contractor referrals

While specific sales figures for the NW Natural Appliance Center aren't public, the company's overall gas utility segment volume distribution gives us a hint about the customer mix this channel supports. Residential and commercial customers together account for approximately 60% of NGD volumes delivered. This suggests that the remaining volume, which includes industrial use, makes up about 40%, and appliance/equipment sales would target the residential and commercial base.

Direct sales teams for commercial and industrial customers

Direct engagement targets the commercial and industrial segments, which are key drivers for the natural gas distribution business. Based on the volume split, these customers represent a substantial portion of the throughput, likely around 40% of the total NGD volumes delivered. Furthermore, the acquisition of SiEnergy adds a high-growth Texas platform, which serves a mix of residential and commercial customers.

Finance: review the 2026 CapEx plan against the projected $450 - $500 million spend for 2025 by end of next week.

Northwest Natural Holding Company (NWN) - Canvas Business Model: Customer Segments

The customer segments for Northwest Natural Holding Company reflect a diversified, multi-utility structure as of late 2025, heavily influenced by recent strategic acquisitions in Texas.

Residential natural gas consumers in Oregon and SW Washington represent the historical core of the largest utility segment. As of December 31, 2024, the NW Natural Gas Utility served approximately 2.5 million people through over 800,000 meters across Oregon and Southwest Washington. New rates went into effect on October 31, 2025, for these Oregon and Washington customers.

Commercial and Industrial (C&I) energy users are served alongside residential customers within the regulated gas utilities. The company's gas utility business is structured to serve these users, with opportunities for growth noted in Texas due to the state's robust economy and business relocations. The C&I segment contributes to the overall customer growth, which saw a combined utility rate of 10.6% for the 12 months ended June 30, 2025.

Water and wastewater utility customers across multiple states form the Northwest Natural Water Utility segment. This subsidiary provides services across the Pacific Northwest, Texas, Arizona, and California. As of the latest data, NW Natural Water is serving approximately 150,000 people through about 62,000 connections. This segment posted a 5.8% increase in its customer base over the last 12 months ending June 30, 2025, supported by three acquisitions.

High-growth residential developers in new Texas service territories are a key driver of recent expansion. The SiEnergy Gas Utility, acquired in January 2025, operates in the greater metropolitan areas of Houston, Dallas, and Austin, Texas. SiEnergy and Pines (acquired in Q2 2025) served approximately 83,000 customers combined as of June 30, 2025. Furthermore, SiEnergy has signed contracts representing over 217,000 future meters in Texas. The acquisition of EPCOR Texas Gas specifically added 6,900 metered connections northeast of Houston.

Non-utility customers for non-regulated RNG sales are served through NW Natural Renewables Holdings. This segment began operations and cash flows from two RNG facilities. The company has entered into new contracts to purchase RNG under Oregon Senate Bill 98. The company also has a fixed-volume contract for the sale of RNG extending from 2025 through 2042.

Here's a quick look at the scale of the customer base across the primary utility operations as of mid-to-late 2025:

Segment	Metric	Latest Reported Number (2025)
NW Natural Gas Utility (OR/SW WA)	Customers Served (Meters)	Over 800,000 (as of 12/31/2024)
SiEnergy/Pines Gas Utility (TX)	Customers Served (as of 6/30/2025)	Approximately 83,000
NW Natural Water Utility	Connections	Approximately 62,000
NW Natural Water Utility	People Served	Approximately 150,000
Combined Utility Growth	Customer Connections Added (12 months ended 9/30/2025)	Over 95,000
SiEnergy Future Growth	Signed Contracts for Future Meters	Over 217,000

The overall customer growth for all utilities was substantial:

• Combined Utility Customer Growth Rate (12 months ended June 30, 2025): 10.6%.
• Combined Utility Customer Growth Rate (12 months ended September 30, 2025): 10.9%.
• Northwest Natural Water Customer Growth (12 months ended June 30, 2025): 5.8%.
• Annualized Organic Customer Growth (First Half 2025): 1.9%.

Northwest Natural Holding Company (NWN) - Canvas Business Model: Cost Structure

You're looking at the major costs Northwest Natural Holding Company incurs to run its utility operations and fund its growth initiatives as of late 2025. For a regulated utility, the cost structure is heavily influenced by asset base needs and the cost of capital.

High capital expenditures (CapEx) for infrastructure modernization represent a massive outlay. Northwest Natural Holding Company projects its 2025 Capital Expenditure guidance to be in the range of $450 million to $500 million. This investment is strategic, allocated across the Pacific Northwest gas utilities, the SiEnergy acquisition integration, and water and wastewater projects. Looking further out, long-term CapEx projections through 2030 have been increased to $2.5 billion to $2.7 billion, reflecting growth plans.

The financing for this asset base drives significant fixed costs. As of Q1 2025, Northwest Natural Holding Company's Long-term Debt stood at $2.2 billion, which included financing activities like a $273 million loan for the SiEnergy acquisition. The targeted capital structure for regulatory purposes is a 50% common equity and 50% long-term debt split. Consequently, interest expense on this debt has risen significantly, partially offsetting net income improvements from new rates.

Operations and Maintenance (O&M) expenses for utility systems are subject to inflationary pressures, especially labor costs. For the Northwest Natural Gas segment in Q1 2025, O&M expense increased by $2.2 million, primarily due to higher payroll and benefit expense. In Q2 2025, the O&M increase was $6.3 million, again mainly reflecting higher payroll and benefits. Total Operating Expenses for the first quarter of 2025 were reported at $339.9 million.

Costs related to regulatory compliance and depreciation move in tandem with capital investment. Depreciation and general taxes increased by $4.8 million in Q2 2025, a direct result of continued system investment. Higher depreciation expenses were noted as a factor impacting net income in Q1 2025. Regulatory compliance costs are tied to securing revenue requirements; for example, the Oregon general rate case order, effective October 31, 2025, approved a revenue requirement increase of $20.7 million over existing rates. Separately, the Washington rate case filing seeks an annual revenue increase of $25.6 million in its first year.

Natural gas and water procurement costs are generally pass-through items, meaning fluctuations in commodity prices are typically recovered through customer rates, though timing differences can affect short-term margins. While specific procurement cost figures aren't detailed as a standalone line item in the provided Q1/Q2 2025 summaries, the overall cost base is reflected in the total operating expenses. The company's Total Assets stood at $5.7 billion as of March 31, 2025.

Here's a quick view of the key cost-related financial data points from early 2025 filings:

Cost Component / Metric	2025 Figure or Range	Context/Period
Projected Capital Expenditures (CapEx)	$450 million - $500 million	Fiscal Year 2025 Guidance
Long-Term Debt Balance	$2.2 billion	As of Q1 2025
Total Operating Expenses	$339.9 million	Q1 2025
O&M Expense Increase (Q2)	$6.3 million	Q2 2025 vs prior period
Depreciation & General Taxes Increase (Q2)	$4.8 million	Q2 2025 vs prior period
Targeted Long-Term Debt Allocation	50%	Of Capital Structure
Long-Term CapEx Projection	$2.5 billion - $2.7 billion	Through 2030

The regulatory environment directly impacts the recovery of these costs. For instance, the approved capital structure includes a 9.5% Return on Equity and an overall cost of capital of 7.12%. These allowed returns help ensure the company can cover its cost of capital, which is defintely a key part of the cost structure equation.

You should check the upcoming Washington rate case filing to see how the next revenue requirement increase will offset rising operational expenses. Finance: draft 13-week cash view by Friday.

Northwest Natural Holding Company (NWN) - Canvas Business Model: Revenue Streams

You're looking for the hard numbers on how Northwest Natural Holding Company (NWN) is bringing in revenue as we close out 2025. It's a mix of regulated utility income, which is the bread and butter, and newer growth areas like water and renewables. Here's the quick math on the streams feeding the top line.

The overall expectation for the year is strong, with the full-year 2025 consensus revenue estimate landing at $1.33 billion. This compares to the forecast annual revenue of $1,266,082,000 based on analyst projections for 2025.

The primary revenue drivers break down like this:

• Regulated natural gas utility margin from Oregon and Washington
• Regulated revenue from the growing multi-state water utility segment
• Non-regulated revenue from NW Natural Renewables (RNG sales)
• Storage and transportation fees from third parties using gas storage

The regulated gas utility in Oregon and Washington saw a significant rate case impact. For the first nine months of 2025, the NW Natural Gas Utility margin increased by $68.1 million, largely due to new rates in Oregon that became effective on October 31, 2025. To give you a sense of the rate adjustments driving this, the utility had initially proposed a residential rate increase of about 7%, but an agreement in the general rate case resulted in a profit margin increase of only 0.1%, which is about standard for Oregon utilities.

The multi-state water utility segment is definitely a growth area, bolstered by acquisitions. As of September 30, 2025, Northwest Natural Holding Company added over 95,000 gas and water utility connections in the preceding 12 months, representing a combined growth rate of 10.9%. For the third quarter of 2025, the NWN Water utility saw operating revenues increase by $3.2 million, driven by new rates in Arizona and incremental revenue from the Infrastructure Capital Holdings/Puttman water utilities acquired in 2024. The segment is projected to contribute between $0.25 to $0.30 per share in EPS for the full year 2025.

Here's a look at the segment contributions based on recent quarterly data, though this is income/net income, not pure revenue:

Business Segment	Q3 2025 Revenue (Millions USD)	9M 2025 Revenue (Millions USD)	Q3 2024 Revenue (Millions USD)
NWN Gas Utility (OR/WA)	Data not isolated from total	Data not isolated from total	Data not isolated from total
NWN Water Utility	Data not isolated from total	Data not isolated from total	Data not isolated from total
SiEnergy Gas Utility (Texas)	Data not isolated from total	Data not isolated from total	Data not isolated from total
Total Reported Revenue (Q3 2025)	$164.7 million	$895.2 million	$136.9 million

For non-regulated revenue, NW Natural Renewables (RNG sales) is now a recognized contributor. Both renewable natural gas (RNG) facilities, which began operations last year, are meeting production expectations. The company reported a full quarter of revenues from NWN Renewables in the first quarter of 2025. The primary revenue source here is from RNG sales under long-term contracts.

Regarding gas storage fees, the company is actively managing its capacity. The company filed to recall 15,000 Dth/day of its Mist storage capacity from third-party interstate/intrastate storage customers back to core utility customers, effective October 31, 2025. This specific capacity recall adjustment is projected to result in an increase to the Company's annual revenues by $82,915, which is about 0.01% of annual revenues.

You should keep an eye on the Washington rate case filings, too. A separate filing in September 2025 proposed rate changes that, if permanent, would result in a decrease to Washington revenues of about $6.7 million, or 6.12%, effective November 1, 2025, due to purchased gas adjustments.

Finance: draft 13-week cash view by Friday.