Northwest Natural Holding Company (NWN): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le monde complexe de la Northwest Natural Holding Company (NWN), une entreprise d'énergie dynamique qui navigue magistralement dans le paysage complexe de la distribution du gaz naturel et des solutions énergétiques durables. Avec un modèle commercial stratégique qui équilibre les services de services publics traditionnels et les initiatives d'énergie renouvelable à l'avance, NWN est un exemple convaincant de la façon dont les entreprises énergétiques modernes peuvent offrir simultanément des infrastructures fiables, des prix compétitifs et une responsabilité environnementale. Leur approche complète transforme le modèle commercial de services publics conventionnels, intégrant l'innovation technologique, la conformité réglementaire et les stratégies centrées sur le client en un cadre holistique qui promet à la fois l'excellence opérationnelle et la durabilité à long terme.

Northwest Natural Holding Company (NWN) - Modèle d'entreprise: partenariats clés

Régulateurs locaux et des services publics d'État

Northwest Natural travaille en étroite collaboration avec l'Oregon Public Utility Commission (OPUC) et la Washington Utilities and Transportation Commission (WUTC). Depuis 2023, la société opère dans les cadres réglementaires qui supervisent ses territoires de service.

Corps réglementaire	Juridiction primaire	Impact réglementaire
Oregon Public Utility Commission	Territoire de service de l'Oregon	Tariser les approbations du cas
Commission des services publics de Washington et des transports	Territoire de service de Washington	Investissements d'infrastructure

Fournisseurs d'infrastructures énergétiques

Northwest Natural maintient des partenariats stratégiques avec les sociétés de pipeline et d'infrastructure pour assurer une livraison fiable de gaz naturel.

• Transmission GTN (transmission du gaz au nord-ouest)
• Northwest Pipeline Corporation
• Compagnies de Williams

Développeurs de technologies d'énergie renouvelable

La société investit dans des partenariats d'énergie renouvelable pour diversifier son portefeuille d'énergie.

Partenaire	Focus technologique	Montant d'investissement (2023)
Producteurs de gaz naturel renouvelable	Développement de biométhane	12,5 millions de dollars
Entreprises de technologie de l'énergie propre	Recherche de mélange d'hydrogène	3,7 millions de dollars

Fournisseurs et distributeurs de gaz naturel

Northwest Natural a établi des accords d'approvisionnement à long terme pour assurer une livraison de gaz cohérente.

• Fournisseurs de gaz canadiens
• Producteurs de bassins de montagne rocheux
• Distributeurs régionaux du Pacifique Nord-Ouest

Organisations environnementales et de durabilité

Les collaborations stratégiques se sont concentrées sur la réduction des émissions de carbone et la promotion des pratiques durables.

Organisation	Focus de partenariat	Budget de collaboration annuel
Solutions climatiques	Stratégies de réduction du carbone	1,2 million de dollars
Fonds de défense environnementale	Réduction des émissions de méthane	$850,000

Northwest Natural Holding Company (NWN) - Modèle d'entreprise: activités clés

Distribution et transmission du gaz naturel

Northwest Natural dessert environ 748 600 clients de gaz naturel dans l'Oregon et le sud-ouest de Washington en 2022. La société exploite 2 550 miles de pipelines de transmission et de distribution.

Métrique	Valeur
Clients totaux de gaz	748,600
Pipeline miles	2,550
États de la zone de service	Oregon, Washington

Maintenance des infrastructures énergétiques

Northwest Natural investit chaque année dans la fiabilité des infrastructures et les améliorations de sécurité.

• Investissement annuel sur les infrastructures: 123,1 millions de dollars en 2022
• Programmes de remplacement et de modernisation des pipelines
• Systèmes de surveillance continue et de gestion de l'intégrité

Développement du projet d'énergie renouvelable

La société s'est engagée à développer des projets de gaz naturel renouvelable (RNG).

Métrique du projet RNG	Statut 2022
Capacité du portefeuille RNG	5,5 millions de therms
Investissements du projet RNG	14,2 millions de dollars

Service client et gestion de l'énergie

Northwest Natural propose un support client complet et des programmes d'efficacité énergétique.

• Opérations du centre de service client 24/7
• Programmes de rabais sur l'efficacité énergétique
• Plates-formes de fiançailles clients numériques

Conformité réglementaire et plaidoyer

La Société s'engage activement avec les organismes de réglementation pour garantir l'élaboration de politiques de conformité et de soutien.

• Budget de conformité réglementaire: 8,3 millions de dollars en 2022
• Participation active aux commissions des services publics d'État
• Initiatives de réduction de la durabilité et des émissions

Northwest Natural Holding Company (NWN) - Modèle d'entreprise: Ressources clés

Réseau de gazoducs naturel

Northwest Natural exploite environ 2 500 miles de pipelines de transmission et de distribution de gaz naturel dans l'Oregon et le sud-ouest de Washington.

Actif de pipeline	Spécification
Longueur totale du pipeline	2 500 miles
Aire de service	Oregon et sud-ouest de Washington
Diamètre du pipeline	2 à 36 pouces

Technologie avancée de mesure et de distribution

L'entreprise a investi dans des infrastructures de mesure intelligente avec 70% des compteurs clients étant avancés de compteurs numériques à partir de 2023.

• Pénétration du compteur numérique: 70%
• Investissement technologique annuel: 15,2 millions de dollars
• Capacités de surveillance en temps réel

Ingénierie qualifiée et main-d'œuvre technique

Métrique de la main-d'œuvre	Valeur
Total des employés	885
Expérience technique moyenne	12,5 ans
Investissement de formation annuelle	1,3 million de dollars

Capital financier et capacité d'investissement solides

Depuis le quatrième trimestre 2023, Northwest Natural a démontré des ressources financières robustes.

Métrique financière	Montant
Actif total	2,1 milliards de dollars
Capitalisation boursière	1,4 milliard de dollars
Dépenses en capital annuelles	220 millions de dollars

Infrastructure énergétique régionale établie

• Dessert 140 000 clients de gaz naturel
• Couverture dans 12 comtés
• Installations de distribution et de stockage multiples

Northwest Natural Holding Company (NWN) - Modèle d'entreprise: propositions de valeur

Services fiables au gaz naturel et énergétiques

Northwest Natural dessert environ 2,5 millions de clients dans l'Oregon et le sud-ouest de Washington. La société offre 88,2 milliards de pieds cubes de gaz naturel par an en 2022 rapports financiers.

Métrique de service	Données quantitatives
Total de clientèle	2,5 millions
Livraison de gaz annuelle	88,2 milliards de pieds cubes
Zone de couverture des services	Oregon et sud-ouest de Washington

Prix ​​compétitifs pour les clients résidentiels

Les taux de gaz naturel résidentiel moyens pour Northwest Natural en 2023 étaient de 9,42 $ par mille pieds cubes, ce qui est 12% inférieur à la moyenne nationale.

• Tarif résidentiel: 9,42 $ pour mille pieds cubes
• Avantage du marché comparatif: 12% en dessous de la moyenne nationale

Engagement envers les transitions énergétiques durables

Northwest Natural a investi 37,6 millions de dollars dans des projets de gaz naturel renouvelables en 2022, ce qui représente 3,2% du total des investissements dans les infrastructures.

Investissement en durabilité	Montant
Investissement en gaz naturel renouvelable	37,6 millions de dollars
Pourcentage d'investissement dans les infrastructures	3.2%

Infrastructure énergétique sûre et efficace

La société maintient 14 500 miles d'infrastructure de gazoducs naturel avec un Dossier de sécurité à 99,99% en 2022.

• Réseau total de pipeline: 14 500 miles
• Performances de sécurité: 99,99% sans incident

Support client et solutions énergétiques réactives

Northwest Natural exploite un centre de support client 24/7 avec un temps de réponse moyen de 7 minutes et une cote de satisfaction du client de 4,6 sur 5.

Métrique du support client	Performance
Temps de réponse moyen	7 minutes
Évaluation de satisfaction du client	4.6/5

Northwest Natural Holding Company (NWN) - Modèle d'entreprise: relations avec les clients

Consultations personnalisées en gestion de l'énergie

Northwest Natural propose des services de consultation en énergie personnalisés avec 87 600 clients résidentiels et 12 400 clients commerciaux de l'Oregon et du sud-ouest de Washington en 2023.

Segment de clientèle	Nombre de clients	Services de consultation
Résidentiel	87,600	Conseils d'efficacité énergétique
Commercial	12,400	Gestion de l'énergie personnalisée

Plateformes de service client numérique

Les canaux de service numérique comprennent:

• Plateforme de gestion des comptes en ligne avec un taux d'adoption des clients de 72%
• Application mobile avec 58% d'engagement des utilisateurs
• Chatbot de support client 24/7

Engagement communautaire et programmes éducatifs

Northwest Natural a investi 1,2 million de dollars dans les programmes d'éducation communautaire en 2023, en se concentrant sur la conservation de l'énergie et la durabilité.

Type de programme	Investissement	Atteindre
Éducation scolaire	$450,000	45 districts scolaires
Ateliers communautaires	$350,000	78 événements communautaires

Facturation transparente et rapport d'utilisation

Caractéristiques de la plate-forme de facturation numérique:

• Suivi d'utilisation en temps réel
• Rapports de consommation d'énergie comparative
• 83% Satisfaction du client à l'égard de la transparence de la facturation

Stratégies de rétention à long terme de la clientèle

Mesures de rétention de la clientèle pour 2023:

Stratégie de rétention	Taux de réussite	Coût
Programme de fidélité	Rétention de 91%	2,1 millions de dollars
Incitations à l'efficacité énergétique	86% d'engagement client	1,5 million de dollars

Northwest Natural Holding Company (NWN) - Modèle d'entreprise: canaux

Portail client en ligne

Northwest Natural fournit un portail client en ligne avec les fonctionnalités suivantes:

Nombre d'utilisateurs en ligne actifs	247 500 depuis le quatrième trimestre 2023
Transactions de paiement des factures en ligne	1,2 million par an
Fonctionnalités de gestion des comptes clients	7 services numériques distincts

Applications de smartphone mobile

Les capacités d'applications mobiles comprennent:

• Suivi de consommation d'énergie en temps réel
• Fonctionnalité de paiement des factures
• Reportage des panneaux
• Soumission de demande de service

Téléchargements d'applications mobiles	89 300 téléchargements totaux
Utilisateurs mensuels de l'application mobile active	42 500 utilisateurs

Centres de vente directe et de service client

Détails de l'infrastructure du service client:

Nombre de centres de service à la clientèle	3 emplacements principaux
Appels de service à la clientèle annuels	412 000 interactions
Temps de résolution des appels moyens	7,3 minutes

Interactions locales de bureaux d'utilité

Statistiques d'interaction de l'office physique:

Emplacements de bureaux physiques totaux	5 bureaux de zone de service
Visites annuelles des clients en personne	38 600 interactions client

Plateformes de communication numérique

Répartition des canaux de communication numérique:

Volume de communication par e-mail	276 000 e-mails clients chaque année
Plateformes d'engagement des médias sociaux	3 plateformes primaires
Interactions annuelles sur les réseaux sociaux	52 400 engagements clients

Northwest Natural Holding Company (NWN) - Modèle d'entreprise: segments de clientèle

Consommateurs de gaz naturel résidentiel

Northwest Natural dessert environ 748 600 clients résidentiels à travers l'Oregon et le sud-ouest de Washington en 2022.

Catégorie client	Nombre de clients	Consommation annuelle moyenne
Maisons unifamiliales	695,000	65 therms / mois
Résidences multifamiliales	53,600	45 Therms / mois

Utilisateurs d'énergie commerciale et industrielle

Northwest Natural soutient 52 100 clients commerciaux et industriels à travers son territoire de service.

• Segment des petites entreprises: 45 700 clients
• Grandes entreprises commerciales: 5 200 clients
• Clients industriels: 1 200 clients

Clients de l'énergie municipale et gouvernementale

Les clients gouvernementaux et municipaux représentent 3,2% de la clientèle totale, totalisant environ 2 400 clients.

Type de client	Nombre de clients
Gouvernements municipaux	1,100
Installations du comté	780
Institutions d'État	520

Partenaires du projet d'énergie renouvelable

Northwest Natural a investi dans 12 projets de partenariat en énergies renouvelables à partir de 2022.

• Projets en gaz naturel renouvelable (RNG): 7
• Collaborations d'énergie solaire: 3
• Partenariats d'infrastructure d'hydrogène: 2

Organisations régionales d'utilité et d'infrastructure

Northwest Natural collabore avec 28 organisations régionales de services publics.

Type d'organisation	Nombre de partenariats
Services électriques	15
Utilitaires aquatiques	8
Infrastructure de télécommunications	5

Northwest Natural Holding Company (NWN) - Modèle d'entreprise: Structure des coûts

Maintenance et mises à niveau des infrastructures

Northwest Natural Holding Company a investi 103,4 millions de dollars dans la maintenance des infrastructures et les mises à niveau en 2022. Les dépenses en capital de la société pour les améliorations des pipelines et des systèmes de distribution ont totalisé 156,7 millions de dollars au cours du même exercice.

Catégorie d'infrastructure	Montant d'investissement (2022)
Remplacement du pipeline	67,2 millions de dollars
Mises à niveau du système de distribution	36,5 millions de dollars
Modernisation des installations	22,7 millions de dollars

Frais d'achat au gaz naturel

En 2022, les coûts d'approvisionnement en gaz naturel de Northwest Natural étaient de 373,6 millions de dollars. Le coût total du gaz de l'entreprise était d'environ 38% de ses dépenses d'exploitation totales.

• Coût moyen des produits de base au gaz naturel: 5,42 $ par million d'unités thermiques britanniques (MMBTU)
• Volume annuel d'achat de gaz: 68,9 millions de dekatherms
• Coûts de transport et de stockage: 42,3 millions de dollars

Rémunération et formation de la main-d'œuvre

Northwest Natural a dépensé 145,2 millions de dollars pour la rémunération totale des employés en 2022. La société a employé 1 167 employés à temps plein avec un salaire annuel moyen de 124 250 $.

Catégorie de compensation	Montant
Salaires de base	98,6 millions de dollars
Avantages et contributions à la retraite	33,7 millions de dollars
Formation et développement	12,9 millions de dollars

Investissements de conformité réglementaire

Northwest Natural a alloué 27,5 millions de dollars à la conformité réglementaire et aux initiatives environnementales en 2022. Cela comprenait des investissements dans les programmes de sécurité, la surveillance environnementale et les rapports réglementaires.

• Investissements de conformité en matière de sécurité: 15,3 millions de dollars
• Surveillance environnementale: 6,2 millions de dollars
• Systèmes de rapports réglementaires: 6,0 millions de dollars

Technologie et développement de plate-forme numérique

La société a investi 18,6 millions de dollars dans le développement de la technologie et des plates-formes numériques en 2022. Cela comprenait des mises à niveau des systèmes de gestion des clients, de l'infrastructure de cybersécurité et de la technologie opérationnelle.

Catégorie d'investissement technologique	Montant
Systèmes de gestion des clients	7,4 millions de dollars
Infrastructure de cybersécurité	6,2 millions de dollars
Mises à niveau de la technologie opérationnelle	5,0 millions de dollars

Northwest Natural Holding Company (NWN) - Modèle d'entreprise: Strots de revenus

Frais de distribution du gaz naturel

Pour l'exercice 2023, Northwest Natural a rapporté des revenus de distribution de gaz naturel de 890,4 millions de dollars. La société dessert environ 2,5 millions de clients dans l'Oregon et le sud-ouest de Washington.

Segment de clientèle	Revenus annuels	Nombre de clients
Résidentiel	612,3 millions de dollars	1,8 million
Commercial	218,6 millions de dollars	700,000
Industriel	59,5 millions de dollars	Environ 5 000

Frais de service résidentiel et commercial

Les frais de service pour 2023 ont totalisé 47,2 millions de dollars, notamment:

• Frais de connexion: 12,6 millions de dollars
• Frais de lecture du compteur: 8,9 millions de dollars
• Frais de service de maintenance: 25,7 millions de dollars

Rendements d'investissement des infrastructures énergétiques

Les rendements des investissements en infrastructure pour 2023 ont atteint 76,5 millions de dollars, avec des investissements clés, notamment:

Catégorie d'investissement	Investissement total	Retour sur investissement
Infrastructure de pipeline	325 millions de dollars	6.8%
Installations de stockage	89 millions de dollars	5.2%

Développement du projet d'énergie renouvelable

Les revenus du projet d'énergie renouvelable pour 2023 s'élevaient à 38,7 millions de dollars, avec des investissements dans:

• Développement du projet solaire: 22,3 millions de dollars
• Projets en gaz naturel renouvelable: 16,4 millions de dollars

Ajustements des taux des services publics et approbations réglementaires

Les augmentations de taux approuvées en 2023 ont généré des revenus supplémentaires de 34,6 millions de dollars, avec une augmentation moyenne des taux de 3,2% entre les segments des clients.

Juridiction réglementaire	Augmentation du taux	Revenus supplémentaires
Oregon	3.5%	24,3 millions de dollars
Washington	2.8%	10,3 millions de dollars

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.