Overview Key strengths Key risks Questar Gas Co. (doing business as Enbridge Gas Utah is a low-risk regulated utility business that effectively manages its regulatory risk. High concentration in Utah make the company largely dependent on the Utah Public Service Commission (UPSC) to sustain credit quality. Large customer base with about 1.2 million customers, spread across three states even though Utah accounts for over 95% of the company?s rate base. High capital spending and negative discretionary cash flow indicates a need for external funding. Legislative protections that prohibit cities and counties from blocking natural gas usage Modest customer growth Strong access to gas supply, transportation, and storage promotes system reliability. . The stable outlook on Enbridge Gas Utah reflects the
