A supportive regulatory environment with cost recovery mechanisms that enhance cash flow predictability Low-operating-risk gas distribution utilities and pipeline assets A superior service territory with above-average population growth prospects Strong access to gas supply and storage An arrangement with affiliate Wexpro Co., an exploration and production operation, to provide natural gas to the utility at cost plus a fixed return Affiliate Questar Pipeline Co. continues to be a supplier of gas to the utility Capital spending remains mostly steady Rate recovery mitigates some regulatory lag Supportive cost recovery through rates including surcharges Financial measures remain in line with our financial risk profile assessment Based on our "excellent" business risk and "intermediate" financial risk profile assessments, there are two potential anchor
