everybody. about morning, through few I'll And and comments good more XXXX Thanks, to an to detail. I up call update priorities. cover the and finally, Brody with and turn priorities, guidance our walking financials on the Nikki, start then in XXXX it hand and strategic welcome, wrap today over I'll by a before to I'll
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and is this had in we is or, has to record in safety, in replace gas assets. investment relatively our technology investments due XXXX The -- if with lag level and to had these at that these aging lag and associated the make levels continued this investments new expense depreciation to regulatory exacerbated so level shorter-lived have higher necessary increased us to of cybersecurity to systems you investment, to make utility will, quickly. recovery to Frankly, -- make at technology due the our with levels. we've associated technology First, reliability nature of
to Second, and utility inflationary case like all personnel our many on in companies, year. renewal several reasons, due cloud rate continuing Oregon multiyear expenses gas decided higher O&M we with to These expenses. other primarily costs, a pressure of pension are is technology frankly, file the of late investments higher last computing contracts, amortization operating the why
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and maintaining reduce can efficiently while possible safe Our cost operate as all and to team a done they reliable system. has as
may XX-month recall, example, will For entire conclude reviewed Oregon And All in as over extensively cases this at Oregon that we've to will items addressed these our period rate effects, case you be general year-end. lag later our measures. the help aggressive filing instituted organization regulatory with near-term adjudicated cost-saving mitigate year. the a are rate and
be expect to effect We X. November in rates new
rate request XX-XX includes of capital request average of million cost million X.XXX%. a requirement increase $XXX utility of an a $XXX.X based a rate last base in a gas includes revenue ROE since The and the of increase on structure, XX.X% of case. cap This
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where project. are disappointed on However, I'm this we very with
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her other growth these this start-up us soon. are that for issues through year team on to Anna find and assets anxious We get can those opportunities are and confident
satisfaction Customer gas began grew today once to Last largest few and large time, water Satisfaction for Western we Utility was Power's second our Study. comments again water recognized the in tremendous Gas launched acquisition of Moving to our on business. Oregon's Residential was States a a natural Northwest Bill Senate utilities, for At wastewater year under a year customer J.D. and Landmark utilities for challenging our scored the operation United yet legislation, second Natural and XXXX. same facility integrated renewable water according services and gas XX us.
row, we dividends also as value. legacy. ethical XX for year I And increased greatly in us in which For a one the world's most year the the Ethisphere recognized second of companies, outstanding the
gas costs.
A reached XX new Gas the financing growth. housing Despite customers. the customers increase rates of of we damper net revenues from new offset gas customer XXXX, notes of a along results of rates XXXX, per added For drove we a market, income X,XXX pension Northwest income or $X.X of reported customer utility, million million on net $XX.X share. to compared Oregon last $X.XX X.X%. a XXXX. million That's a during interest In growth XXX,XXX months by utility rate putting in or for an Natural the approximately national of and quick on with expense, $X.XX share [indiscernible] couple Higher milestone $XX.X January lower in and local natural growth,
and both Natural of continued we XXXX customers rate average closed. Our organic water XX.X% Water through growth rate of XX,XXX overall acquisitions organically X for and X%. added utilities wastewater in also an that growing an growth Northwest and
strong with platform business can acquisitions. XX,XXX water services X the business years. the We scaled we also that launched believe nearly supports today, is that This be a in And coming connections.
our very over I'm pleased customer connections X businesses. XXX,XXX serve X states to across to
forward reflects minimize are to primarily challenges, a in utility. stage right these investments summary, of actions In the today the set a lag related believe right lag for the I and long-term that to XXXX making convergence to intrinsic we're growth. the we've taken regulated going while
solid in to credit ratings our future I'm is sheet, to and of value maintain this and strong objective Our while earnings balance company. XXX-year-old grow and continuing the confident
the to long-term rate our the earnings are per earnings reaffirming share we on with share today, per year were window XXXX why base X% calculation X-year that That's and for $X.XX. that X% growth is
to that, on Brody for it over remarks the I'll financials. turn With
