U.S. Markets closed

Ore. regulators order natural gas rate reductions

PORTLAND, Ore. (AP) -- Rates for natural gas in Oregon have been cut.

The Public Utility Commission said Wednesday it has ordered three companies to reduce rates based on the lower prices they pay for gas. It said gas supply has been surging as a result of new drilling techniques. Oregon gets gas mainly from Canada and the Rocky Mountain region.

The reductions among the three companies range from 6.9 percent to 17.30 percent, the latter for Cascade Natural Gas customers. The other companies are Northwest Natural and Avista.

The commission said the rates are effective Thursday.