So I don't know if that's more confusing than sort of illuminating, but there's a fairly robust process that we go through with our stakeholders to analyze the cost and benefit of RNG and the SB98 legislation is fairly robust in what it allows us to do.Yes, that helps. But that's how I'm looking at it. Chris, I just want to add because there's uncertainty about how long the moratorium on disconnects would go, it makes it just harder to know. As market conditions have improved, we reduced that to $137 million. I think some are probably hurting unfortunately worse than others.I will tell you, on the "M&A activity front," with as much as that dynamic is out there, and of course, we're here to help any water utility that needs to be helped, whether it's municipal or private, the M&A activity has been pretty slow, frankly. But what is the trade-off, or what is the thought process in Oregon about costs versus, say, carbon benefits with RNG? And before, you talked about that this year, the O&M will be higher. Guidance also assumes continued customer growth, average weather conditions and no significant changes in prevailing regulatory policies, mechanisms or outcomes or significant laws, legislation or regulations.Finally, this guidance excludes any gain related to the sale of Gill Ranch and associated operating results. I'll start.
So we have been building up a team and capabilities enabling us to execute on our RNG strategy really in parallel with finalizing the rules.
The good news is we have the opportunity to either invest directly into it or buy. We've reduced essentially frozen our hiring practices. Now in both studies, clearly, technical potential is not necessarily economic potential.
We believe we'll end up with a mix of some investment opportunities as well as longer-term procurement or gas supply agreements. Depreciation expense and general taxes increased $2 million related to our continued investment in our system, including the North Mist gas storage facility, which was placed into rates in May of 2019. Speaking this morning are David Anderson, President and Chief Executive Officer; and Frank Burkhartsmeyer, Senior Vice President and Chief Financial Officer. At this time, we do not expect a material change in our capital expenditure range of $240 million to $280 million. And you're talking about the RNG, Richard, to make sure I understand it correctly?Yes.
I think that's what I'm trying to point out. For the first six months of 2020, we reported net income from continuing operations of $43.1 million or $1.41 per share compared to net income of $45.5 million or $1.56 per share for the same period in 2019.Last year's results included a regulatory disallowance of $0.23 per share related to an Oregon Commission order.
A majority of our revenues have recovery mechanisms in place to weather normalize and to decouple margins. So we really don't have to that's, if I understand your question right, Chris, that's certainly not really kind of part of the process.If we can go out there and find RNG, which there's a lot out there, which I might have Kim just detail a little bit about some of the opportunities there or Justin, one of the two of you, that will just go through the rulemaking process and that will be put into rights.
Cumulative Growth of a $10,000 Investment in Stock AdvisorNorthwest Natural Holding Co (NWN) Q2 2020 Earnings Call Transcript @themotleyfool #stocks $NWN
So that's kind of a onetime cost.Okay, great. In addition, we experienced slightly lower usage from industrial and commercial use customers that were not decoupled.
Like all of you, we continue to navigate these unusual times. So there's just a bit more interest in the back half of the year, but that $1.7 million of incremental interest is really, again, front-end loaded. This is also the time that our revised purchased gas adjustment, or PGA, takes effect. This is David again. Real Time Quote So we feel very good about the prospects of stepping into RNG in a way that protects customers and rates, but certainly, the supply potential that's out there.Okay.
And again, I'm hopeful that we're going to come to a good resolution there that will allow us to make sure that we can handle customers' bills that are having difficulty during that period of time.
That's all my questions.Thank you. Not only do we care for customers, we also care deeply about our employees, and I am proud of how quickly our employees have adapted adopted rather, new safety procedures and embraced working remotely, all the while they have maintained the highest service and productivity levels.During this excuse me, we're also reminded of the importance of social justice in our workplace. While we continue to focus on day-to-day operations, we're also advancing key long-term objectives. RNG is going to be a smaller economy of scale than delivery of just natural gas. ET. They have definitions of cost versus benefit, but sometimes that can get contentious in the regulatory process.
However, a lot of your peers in 2Q cut costs on travel, training, deferred some expenses to kind of offset the impact from COVID.
First, we continue to track commercial customer losses as a result of businesses closing their doors and today have not seen a significant change or near-term implications on customer growth, but it is still very early in the economic contraction. So we feel very good about the prospects of stepping into RNG in a way that protects customers and rates, but certainly, the supply potential that's out there.Okay. How do you think about your expansion of RNG portfolio?
And each jurisdiction is approaching it a little bit differently. There was also a study that was funded by the American Gas Foundation and many utilities across the country this year that looked at the technical potential of renewable natural gas nationwide.And again, that technical potential looks to be nearly 90% of all the current gas throughput nationwide.
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