Regulated Energy Delivery
Electric and Natural Gas Utilities
Our utility group, comprised of four utility companies, provides natural gas and/or electric power to over 1.2 million customers across eight states.
From 2020 to 2025, our utility rate base grew at a compound annual rate of 9% to a combined $4.0 billion. We expect to invest approximately $2.5 billion from 2026-2030 to replace, expand and modernize our existing utility infrastructure.
- Cascade Natural Gas Corporation distributes natural gas in Oregon and Washington.
- Great Plains Natural Gas Co. distributes natural gas in western Minnesota and southeastern North Dakota.
- Intermountain Gas Company distributes natural gas in southern Idaho.
- Montana-Dakota Utilities Co. generates, transmits and distributes electricity and distributes natural gas in Montana, North Dakota, South Dakota and Wyoming.
Pipeline
WBI Energy is a leading provider of natural gas transportation and storage services in the Northern Plains, operating a regulated pipeline network of more than 3,800 miles. The company owns and operates two underground natural gas storage fields, including the largest in North America, providing a readily-available natural gas supply to the company's transportation and storage customers. The system has 14 interconnecting points with other pipeline facilities, allowing for the receipt and/or delivery of natural gas to and from other regions of the country and Canada. WBI Energy owns the largest natural gas storage field in North America, which is adjacent to the Bakken play.
The vast majority of our pipeline business is regulated, providing low-risk, stable returns. From 2026-2030, WBI Energy plans to invest $643 million in its pipeline system, including organic growth projects and system upgrades and replacements with a focus on being the pipeline of choice for demand customers as well as customers in the Bakken.
WBI Energy also provides cathodic protection and other energy-related services.