Business Strategy and Outlook| Andrew Bischof |
Favorable rate regulation and large infrastructure investment opportunities have driven strong earnings growth and steady dividend increases for Atmos Energy. We expect Atmos to invest $15 billion during the next five years, in line with management's expectations. Over 85% of the total investment is for safety and reliability, replacing bare steel, cast iron, and vintage plastic pipes. We expect this investment to receive regulatory support and continue beyond our five-year forecast.