NorthWestern Energy Group (NWE) said Tuesday that it reached settlement agreements in its Montana electric and natural gas rate review with key stakeholders, including the Montana Consumer Counsel, major industrial customers, federal agencies, Walmart, the University of Montana, and the Northern Cheyenne Tribe.

If the agreements are approved by the Montana Public Service Commission, the utility company said residential customers would see their monthly natural gas bills rise by $4.74, or 9.14%, and electric bills by $4.63, or 4.21%, beginning July 1.

The agreements would increase annual natural gas base revenue by about $18 million and electric revenue by $66.4 million, excluding proposals tied to the Yellowstone County Generating Station, the company said.

Including all proposals, NorthWestern said it seeks a total electric revenue increase of $110.3 million, but after accounting for credits and tax adjustments, customer electric bills will be impacted by the net $14.6 million increase in revenue.

The settlements also include a new backup power rate for the University of Montana and a transition planning agreement with the Northern Cheyenne Tribe related to the Colstrip coal plant, the company said, adding the Montana Public Service Commission will hold public hearings on unresolved issues, including the Yellowstone plant and energy cost recovery, starting April 22.