Overview Key strengths Key risks Lower-risk natural gas distribution operations. Geographic footprint limited to Wisconsin. Constructive regulatory environment in Wisconsin. Capital spending requires balanced funding. Majority of cash flows are derived from relatively stable customer base. Negative discretionary cash flow leads to external funding needs. On April 12, 2024, Wisconsin Gas filed its latest rate case with the Public Service Commission of Wisconsin (PSCW) requesting an increase of $98.3 million to base rates premised upon a 10% return of equity (ROE). This includes a proposed increase of about $67.7 million in 2025 and $30.6 million in 2026. A final order is anticipated by the end of 2024. Wisconsin Gas? previous base rate cases were authorized by the Public Service Commission
