Strategy & Finance

Gas Utilities

Case studies in gas utilities.

Atmos Energy: How should the next wave of investment be paced?

On August 5, 2026, Atmos Energy reported its third-quarter results and reaffirmed its fiscal-year outlook. The company had a large multiyear investment plan underway. Read case

ONE Gas: timing a capital plan under different rules

ONE Gas plans to invest about $4.3 billion from 2026 through 2030 in its natural-gas distribution systems. About $2.5 billion is assigned to system integrity and replacement, and about $1.2 billion to growth. The remaining amount covers other categories and costs described in the company’s plan. Read case

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