NW Natural

#4043

Rank

$1.59B

MarketCap US

US United States

Country

Summary
Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, industrial, and transportation customers in Oregon and Southwest Washington. The company also operates 5.7 billion cubic feet of the Mist gas storage facility contracted to other utilities and third-party marketers; offers natural gas asset management services; and operates an appliance retail center. In addition, it engages in the gas storage, water, non-regulated renewable natural gas, and other investments and activities. The company provides natural gas service through approximately 786,000 meters in Oregon and southwest Washington; and water services to a total of approximately 80,000 people through approximately 33,000 water and wastewater connections in the Pacific Northwest and Texas. Northwest Natural Holding Company was founded in 1859 and is headquartered in Portland, Oregon.

History

Portland Gas Light Company began as the first gas company in the Pacific Northwest in 1859, based on a perpetual charter by the territorial government. The territorial government granted the charter in January 1859, only a month before Oregon became a state on February 14, at which time the Oregon Constitution became effective. The Constitution would not have allowed this perpetual franchise had the Constitution been in effect at the time the charter was granted. The company was started by H.C. Leonard and Henry D. Green, "colorful pioneers" who knew each other in New York, met again in San Francisco, and started a general store in Astoria in 1850.Moving to Portland in 1852, Green and Leonard built the first shipping dock in Portland. They also operated as agents for Pacific Mail Steamship Company and exported goods to the Hawaiian Islands and Asia. Their first coal gasification plant at Flanders and the waterfront operated on coal from Vancouver Island. Gas began flowing in 1859, and the first gas lights were in a section of downtown Portland beginning June 1, 1860 and supplied 49 customers. They incorporated as the Portland Gas Light Company in 1862 and purchased the Portland Water Company franchise. They also created the East Portland Gas Light Company in 1882, creating a plant at East Second and Ankeny.Green died in 1885, and Leonard sold the Portland Water Company franchise to the city in December 1886. The gas business was sold to bankers C.F. Adams and Abbot Low Mills in August 1892 for a reported $850,000. Adams and Mills reincorporated as the Portland Gas Company and bought three other franchises, including the East Portland Gas Light Company. They connected east and west Portland with a 10-inch gas main under the Willamette and then dismantled the eastern gas plant.In 1913, the company was sold to the American Power & Light Company for $3.5 million and was renamed the Portland Gas and Coke Company. American Power was a subsidiary of the Electric Bond and Share Company of New York . EBASCO was the holding company for small utilities owned by General Electric. Using American Power's financing, Portland Gas supported the creation of St. Johns Gas Company in 1909, Clackamas County Gas Company in 1913, and acquired both companies in 1915.In the early days of the company, gas was manufactured from coal or oil in local plants. This process ended with the arrival of natural gas to the region in the 1950s, and the company closed its last gas plant in 1957.In 1958, the company changed its name to Northwest Natural Gas Company. During the 1960s, 1970s, and 1980s, the company continued to grow and expand its service area beyond Portland and the Willamette Valley. By the end of 1989, the company had grown to serve over 300,000 residential customers. The company's name was changed again, from Northwest Natural Gas Company to NW Natural in 1997.NW Natural moved from the NASDAQ stock market to a listing on the New York Stock Exchange under the symbol NWN in 2000. NW Natural attempted to purchase Portland General Electric, a Portland-based electricity utility, for nearly $3 billion beginning in October 2001 from Enron. Due to issues including the bankruptcy of PGE parent Enron, the proposed merger was abandoned in May 2002. For a fifth straight year Business Ethics magazine named NW Natural to its list of 100 Best Corporate Citizens, ranking 47th.In 2003, the board of directors announced the creation of a charitable fund at the Oregon Community Foundation to honor retiring CEO Richard G. Reiten. NW Natural donated $125,000 to create the NW Natural/Dick Reiten Leadership Fund. On July 10, 2003, NW Natural Gas Company and Coos County broke ground for the county's natural gas transmission line and NW Natural's local distribution system in Coos Bay.In 2005, the company began removing tar from the site of a former plant that had polluted the Willamette River and were later fined for actions related to that clean-up. In 2007, NW Natural announced plans to construct a new pipeline for delivery of natural gas, and announced a rate cut for the first time in six years.


Mission
Our job is to deliver natural gas safely and reliably to customers in Oregon and Southwest Washington. NW Natural buys natural gas from suppliers in the Western U.S. and Canada and distributes it to residential, commercial, and industrial customers throughout our service territory.

Vision
NW Natural will provide a sustainable living environment today and for future generations.

Key Team

Mr. Justin B. Palfreyman (Pres of NW Natural RNG Holding Company, LLC)

Mr. Brody J. Wilson (VP, Chief Accounting Officer, Controller & Treasurer)

Mr. James R. Downing (VP & Chief Information Officer)

Ms. Nikki Sparley CPA (Director of Investor Relations)

Ms. Shawn M. Filippi (VP, Chief Compliance Officer & Corp. Sec.)

Ms. Kathryn M. Williams (VP of Public Affairs & Sustainability)

Ms. Melinda B. Rogers (VP and Chief HR & Diversity Officer)


Recognition and Awards
NW Natural has been recognized by EPA’s Green Power Partnership as a Fortune 500 Green Power Leader; Oregon Business Magazine's 100 Best Green Workplaces; and J.D. Power's highest customer satisfaction rating for the Upper Midwest region.

References
NW Natural
Leadership team

Mr. David Hugo Anderson (Pres, CEO & Director)

Mr. Frank H. Burkhartsmeyer (Sr. VP & CFO)

Ms. MardiLyn Saathoff (Sr. VP of Regulation & Gen. Counsel)

Products/ Services
Natural Resources, Oil and Gas, Service Industry
Number of Employees
1,000 - 20,000
Headquarters
Portland, Oregon, United States
Established
1859
Company Registration
SEC CIK number: 0001733998
Net Income
100M - 500M
Revenue
500M - 1B
Traded as
NWN
Social Media
Sun Mar 03 2024
About

businessabc offers a global business, SMEs wiki directory blockchain, NFTs, AI powered marketplace for businesses worldwide.

Follow Us
Produced by
In collaboration with
Logo

Copyright 2023 © businessabc powered by ztudium