Northwest Natural Holding Company (NWN): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el intrincado mundo de Northwest Natural Holding Company (NWN), una empresa de energía dinámica que navega magistralmente el complejo panorama de la distribución de gas natural y las soluciones de energía sostenible. Con un modelo de negocio estratégico que equilibra los servicios de servicios públicos tradicionales y las iniciativas de energía renovable a futuro, NWN es un ejemplo convincente de cómo las empresas de energía moderna pueden ofrecer simultáneamente infraestructura confiable, precios competitivos y responsabilidad ambiental. Su enfoque integral transforma el modelo de negocio de servicios públicos convencionales, integrando la innovación tecnológica, el cumplimiento regulatorio y las estrategias centradas en el cliente en un marco holístico que promete la excelencia operativa y la sostenibilidad a largo plazo.

Northwest Natural Holding Company (NWN) - Modelo de negocios: asociaciones clave

Reguladores de servicios públicos locales y estatales

Northwest Natural trabaja en estrecha colaboración con la Comisión de Servicios Públicos de Oregon (OPUC) y la Comisión de Transporte y Servicios de Transporte de Washington (WUTC). A partir de 2023, la compañía opera bajo marcos regulatorios que supervisan sus territorios de servicio.

Cuerpo regulador	Jurisdicción primaria	Impacto regulatorio
Comisión de servicios públicos de Oregon	Territorio de servicio de Oregon	Aprobaciones de casos de tarifas
Comisión de servicios públicos y transporte de Washington	Territorio de servicio de Washington	Inversiones de infraestructura

Proveedores de infraestructura energética

Northwest Natural mantiene asociaciones estratégicas con compañías de tuberías e infraestructura para garantizar una entrega confiable de gas natural.

• Transmisión GTN (transmisión de gas noroeste)
• Northwest Pipeline Corporation
• Compañías de Williams

Desarrolladores de tecnología de energía renovable

La compañía invierte en asociaciones de energía renovable para diversificar su cartera de energía.

Pareja	Enfoque tecnológico	Monto de inversión (2023)
Productores de gas natural renovable	Desarrollo biometano	$ 12.5 millones
Empresas de tecnología de energía limpia	Investigación de mezcla de hidrógeno	$ 3.7 millones

Proveedores y distribuidores de gas natural

Northwest Natural ha establecido acuerdos de suministro a largo plazo para garantizar una entrega constante de gas.

• Proveedores de gas canadienses
• Productores de cuencas de montaña rocosa
• Distribuidores regionales del noroeste del Pacífico

Organizaciones ambientales y de sostenibilidad

Las colaboraciones estratégicas se centraron en reducir las emisiones de carbono y promover prácticas sostenibles.

Organización	Enfoque de asociación	Presupuesto de colaboración anual
Soluciones climáticas	Estrategias de reducción de carbono	$ 1.2 millones
Fondo de Defensa Ambiental	Reducción de la emisión de metano	$850,000

Northwest Natural Holding Company (NWN) - Modelo de negocio: actividades clave

Distribución y transmisión de gas natural

Northwest Natural sirve a aproximadamente 748,600 clientes de gas natural en Oregon y el suroeste de Washington a partir de 2022. La compañía opera 2,550 millas de tuberías de transmisión y distribución.

Métrico	Valor
Total de los clientes de gas	748,600
Millas de tubería	2,550
Estados del área de servicio	Oregon, Washington

Mantenimiento de la infraestructura energética

Northwest Natural invierte anualmente en confiabilidad de infraestructura y actualizaciones de seguridad.

• Inversión anual de infraestructura: $ 123.1 millones en 2022
• Programas de reemplazo y modernización de tuberías
• Sistemas de monitoreo continuo y gestión de integridad

Desarrollo del proyecto de energía renovable

La compañía se ha comprometido a desarrollar proyectos de gas natural renovable (RNG).

Métrica del proyecto RNG	Estado 2022
Capacidad de cartera de RNG	5.5 millones de termos
Inversiones del proyecto RNG	$ 14.2 millones

Servicio al cliente y gestión de energía

Northwest Natural proporciona programas integrales de atención al cliente y eficiencia energética.

• Operaciones del centro de servicio al cliente 24/7
• Programas de reembolso de eficiencia energética
• Plataformas de participación de clientes digitales

Cumplimiento regulatorio y defensa

La Compañía se involucra activamente con organismos regulatorios para garantizar el cumplimiento y el desarrollo de políticas de apoyo.

• Presupuesto de cumplimiento regulatorio: $ 8.3 millones en 2022
• Participación activa en comisiones de utilidad estatal
• Iniciativas de reducción de sostenibilidad y emisiones

Northwest Natural Holding Company (NWN) - Modelo de negocio: recursos clave

Extensa red de tuberías de gas natural

Northwest Natural opera aproximadamente 2,500 millas de tuberías de transmisión y distribución de gas natural en Oregon y el suroeste de Washington.

Activo de tuberías	Especificación
Longitud total de la tubería	2.500 millas
Vía de Servício	Oregon y suroeste de Washington
Rango de diámetro de la tubería	2 a 36 pulgadas

Tecnología de medición y distribución avanzada

La compañía ha invertido en infraestructura de medición inteligente con el 70% de los medidores de clientes que se avanzan medidores digitales a partir de 2023.

• Penetración del medidor digital: 70%
• Inversión tecnológica anual: $ 15.2 millones
• Capacidades de monitoreo en tiempo real

Ingeniería especializada y fuerza laboral técnica

Métrica de la fuerza laboral	Valor
Total de empleados	885
Experiencia técnica promedio	12.5 años
Inversión de capacitación anual	$ 1.3 millones

Fuerte capital financiero y capacidad de inversión

A partir del cuarto trimestre de 2023, Northwest Natural demostró recursos financieros sólidos.

Métrica financiera	Cantidad
Activos totales	$ 2.1 mil millones
Capitalización de mercado	$ 1.4 mil millones
Gastos de capital anuales	$ 220 millones

Infraestructura energética regional establecida

• Atiende a 140,000 clientes de gas natural
• Cobertura en 12 condados
• Múltiples instalaciones de distribución y almacenamiento

Northwest Natural Holding Company (NWN) - Modelo de negocio: propuestas de valor

Servicios confiables de gas natural y energía

Northwest Natural sirve a aproximadamente 2.5 millones de clientes en Oregon y Southwest Washington. La compañía ofrece 88.2 mil millones de pies cúbicos de gas natural anualmente a partir de los informes financieros de 2022.

Métrico de servicio	Datos cuantitativos
Base total de clientes	2.5 millones
Entrega anual de gas	88.2 mil millones de pies cúbicos
Área de cobertura de servicio	Oregon y suroeste de Washington

Precios competitivos para clientes residenciales

Las tasas promedio de gas natural residencial para Northwest Natural en 2023 fueron $ 9.42 por mil pies cúbicos, que es un 12% más bajo que el promedio nacional.

• Tasa residencial: $ 9.42 por mil pies cúbicos
• Ventaja comparativa del mercado: 12% por debajo del promedio nacional

Compromiso con las transiciones de energía sostenible

Northwest Natural invirtió $ 37.6 millones en proyectos de gas natural renovable en 2022, lo que representa el 3.2% de las inversiones totales de infraestructura.

Inversión de sostenibilidad	Cantidad
Inversión de gas natural renovable	$ 37.6 millones
Porcentaje de inversión de infraestructura	3.2%

Infraestructura energética segura y eficiente

La compañía mantiene 14,500 millas de infraestructura de tuberías de gas natural con un 99.99% Registro de seguridad en 2022.

• Red total de tuberías: 14,500 millas
• Rendimiento de seguridad: 99.99% sin incidentes

Atención al cliente y soluciones energéticas receptivas

Northwest Natural opera un centro de atención al cliente 24/7 con un tiempo de respuesta promedio de 7 minutos y una clasificación de satisfacción del cliente de 4.6 de 5.

Métrica de soporte al cliente	Actuación
Tiempo de respuesta promedio	7 minutos
Calificación de satisfacción del cliente	4.6/5

Northwest Natural Holding Company (NWN) - Modelo de negocios: relaciones con los clientes

Consultas personalizadas de gestión de energía

Northwest Natural ofrece servicios de consulta de energía personalizada con 87,600 clientes residenciales y 12,400 clientes comerciales en Oregon y el suroeste de Washington a partir de 2023.

Segmento de clientes	Número de clientes	Servicios de consulta
Residencial	87,600	Consejo de eficiencia energética
Comercial	12,400	Gestión de energía personalizada

Plataformas de servicio al cliente digital

Los canales de servicio digital incluyen:

• Plataforma de administración de cuentas en línea con 72% de tasa de adopción del cliente
• Aplicación móvil con 58% de participación del usuario
• Chatbot de atención al cliente 24/7

Programas de participación comunitaria y educación

Northwest Natural invirtió $ 1.2 millones en programas de educación comunitaria en 2023, centrándose en la conservación de energía y la sostenibilidad.

Tipo de programa	Inversión	Alcanzar
Educación escolar	$450,000	45 distritos escolares
Talleres de la comunidad	$350,000	78 eventos comunitarios

Facturación transparente e informes de uso

Características de la plataforma de facturación digital:

• Seguimiento de uso en tiempo real
• Informes comparativos de consumo de energía
• 83% de satisfacción del cliente con la transparencia de facturación

Estrategias de retención de clientes a largo plazo

Métricas de retención de clientes para 2023:

Estrategia de retención	Tasa de éxito	Costo
Programa de fidelización	91% de retención	$ 2.1 millones
Incentivos de eficiencia energética	86% de compromiso del cliente	$ 1.5 millones

Northwest Natural Holding Company (NWN) - Modelo de negocios: canales

Portal de clientes en línea

Northwest Natural proporciona un portal de clientes en línea con las siguientes características:

Número de usuarios en línea activos	247,500 a partir del cuarto trimestre 2023
Transacciones de pago de facturas en línea	1.2 millones por año
Características de la gestión de la cuenta del cliente	7 servicios digitales distintos

Aplicaciones de teléfonos inteligentes móviles

Las capacidades de aplicaciones móviles incluyen:

• Seguimiento de uso de energía en tiempo real
• Funcionalidad de pago de facturas
• Informes de interrupción
• Envío de solicitudes de servicio

Descargas de aplicaciones móviles	89,300 descargas totales
Usuarios mensuales de aplicaciones móviles activas	42,500 usuarios

Centros directos de ventas y servicio al cliente

Detalles de la infraestructura de servicio al cliente:

Número de centros de servicio al cliente	3 ubicaciones principales
Llamadas anuales de servicio al cliente	412,000 interacciones
Tiempo de resolución de llamadas promedio	7.3 minutos

Interacciones de la oficina de servicios públicos locales

Estadísticas de interacción de la oficina física:

Ubicaciones de oficinas físicas totales	5 oficinas de área de servicio
Visitas anuales al cliente en persona	38,600 interacciones con los clientes

Plataformas de comunicación digital

Desglose del canal de comunicación digital:

Volumen de comunicación por correo electrónico	276,000 correos electrónicos del cliente anualmente
Plataformas de compromiso de redes sociales	3 plataformas principales
Interacciones anuales en las redes sociales	52,400 compromisos de clientes

Northwest Natural Holding Company (NWN) - Modelo de negocios: segmentos de clientes

Consumidores de gas natural residencial

Northwest Natural sirve a aproximadamente 748,600 clientes residenciales en Oregon y el suroeste de Washington a partir de 2022.

Categoría de clientes	Número de clientes	Consumo anual promedio
Casas unifamiliares	695,000	65 Terms/Mes
Residencias multifamiliares	53,600	45 Terms/Mes

Usuarios de energía comercial e industrial

Northwest Natural apoya a 52,100 clientes comerciales e industriales en su territorio de servicio.

• Segmento de pequeñas empresas: 45,700 clientes
• Grandes empresas comerciales: 5.200 clientes
• Clientes industriales: 1.200 clientes

Clientes de energía municipal y gubernamental

Los clientes gubernamentales y municipales representan el 3.2% de la base total de clientes, por un total de aproximadamente 2,400 clientes.

Tipo de cliente	Número de clientes
Gobiernos municipales	1,100
Instalaciones del condado	780
Instituciones estatales	520

Socios del proyecto de energía renovable

Northwest Natural ha invertido en 12 proyectos de asociación de energía renovable a partir de 2022.

• Proyectos de gas natural renovable (RNG): 7
• Colaboraciones de energía solar: 3
• Asociaciones de infraestructura de hidrógeno: 2

Organizaciones regionales de servicios públicos e infraestructura

Northwest Natural colabora con 28 organizaciones de servicios públicos regionales.

Tipo de organización	Número de asociaciones
Utilidades eléctricos	15
Utilidades de agua	8
Infraestructura de telecomunicaciones	5

Northwest Natural Holding Company (NWN) - Modelo de negocio: Estructura de costos

Mantenimiento y actualizaciones de infraestructura

Northwest Natural Holding Company invirtió $ 103.4 millones en mantenimiento y actualizaciones de infraestructura en 2022. Los gastos de capital de la compañía para mejoras en el sistema de tuberías y distribución totalizaron $ 156.7 millones en el mismo año fiscal.

Categoría de infraestructura	Monto de inversión (2022)
Reemplazo de la tubería	$ 67.2 millones
Actualizaciones del sistema de distribución	$ 36.5 millones
Modernización de las instalaciones	$ 22.7 millones

Gastos de adquisición de gas natural

En 2022, los costos de adquisición de gas natural de Northwest Natural fueron de $ 373.6 millones. El costo total de gas de la compañía fue de aproximadamente el 38% de sus gastos operativos totales.

• Costo promedio de productos de gas natural: $ 5.42 por millón de unidades térmicas británicas (MMBTU)
• Volumen anual de compra de gas: 68.9 millones de Dekatherms
• Costos de transporte y almacenamiento: $ 42.3 millones

Compensación y capacitación de la fuerza laboral

Northwest Natural gastó $ 145.2 millones en una compensación total de empleados en 2022. La compañía empleó a 1,167 empleados a tiempo completo con un salario anual promedio de $ 124,250.

Categoría de compensación	Cantidad
Salarios base	$ 98.6 millones
Beneficios y contribuciones de jubilación	$ 33.7 millones
Capacitación y desarrollo	$ 12.9 millones

Inversiones de cumplimiento regulatorio

Northwest Natural asignó $ 27.5 millones al cumplimiento regulatorio e iniciativas ambientales en 2022. Esto incluyó inversiones en programas de seguridad, monitoreo ambiental e informes regulatorios.

• Inversiones de cumplimiento de seguridad: $ 15.3 millones
• Monitoreo ambiental: $ 6.2 millones
• Sistemas de informes regulatorios: $ 6.0 millones

Tecnología y desarrollo de plataforma digital

La compañía invirtió $ 18.6 millones en tecnología y desarrollo de plataformas digitales en 2022. Esto incluyó actualizaciones a sistemas de gestión de clientes, infraestructura de ciberseguridad y tecnología operativa.

Categoría de inversión tecnológica	Cantidad
Sistemas de gestión de clientes	$ 7.4 millones
Infraestructura de ciberseguridad	$ 6.2 millones
Actualizaciones de tecnología operativa	$ 5.0 millones

Northwest Natural Holding Company (NWN) - Modelo de negocios: flujos de ingresos

Tarifas de distribución de gas natural

Para el año fiscal 2023, Northwest Natural informó ingresos por distribución de gas natural de $ 890.4 millones. La compañía atiende a aproximadamente 2.5 millones de clientes en Oregon y Southwest Washington.

Segmento de clientes	Ingresos anuales	Número de clientes
Residencial	$ 612.3 millones	1.8 millones
Comercial	$ 218.6 millones	700,000
Industrial	$ 59.5 millones	Aproximadamente 5,000

Cargos de servicio residencial y comercial

Los cargos de servicio para 2023 totalizaron $ 47.2 millones, que incluyen:

• Tarifas de conexión: $ 12.6 millones
• Cargos de lectura del medidor: $ 8.9 millones
• Tarifas de servicio de mantenimiento: $ 25.7 millones

Devoluciones de la inversión de infraestructura energética

Los rendimientos de inversión de infraestructura para 2023 alcanzaron $ 76.5 millones, con inversiones clave que incluyen:

Categoría de inversión	Inversión total	Retorno de la inversión
Infraestructura de tuberías	$ 325 millones	6.8%
Instalaciones de almacenamiento	$ 89 millones	5.2%

Desarrollo del proyecto de energía renovable

Los ingresos del proyecto de energía renovable para 2023 ascendieron a $ 38.7 millones, con inversiones en:

• Desarrollo del proyecto solar: $ 22.3 millones
• Proyectos de gas natural renovable: $ 16.4 millones

Ajustes de tarifas de servicios públicos y aprobaciones regulatorias

Los aumentos de tarifas aprobados en 2023 generaron ingresos adicionales de $ 34.6 millones, con un aumento de tasa promedio de 3.2% entre los segmentos de los clientes.

Jurisdicción regulatoria	Aumento de la tasa	Ingresos adicionales
Oregón	3.5%	$ 24.3 millones
Washington	2.8%	$ 10.3 millones

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.