Utilities Financial ModelsPage 2
Building a utility network uses cash before customers pay for the investment through their bills. The allowed return and timing of rate adjustments determine how that spending becomes earnings. Competitive generators face a different exposure because market power prices influence what their output earns.

Evergy
Evergy is a regulated electric utility company that generates, transmits, and distributes electricity to approximately 1.7 million customers across Kansas and Missouri.

Pinnacle West Capital
Pinnacle West Capital Corporation (NYSE: PNW) is an energy holding company that operates primarily through its principal subsidiary, Arizona Public Service Company (APS).

Atmos Energy
Atmos Energy Corporation is the largest fully regulated, pure-play natural gas distributor in the United States, serving approximately 3.4 million customers.

American Water Works
American Water Works Company, Inc.

Alliant Energy
Alliant Energy Corporation is a regulated investor-owned public utility holding company providing electricity and natural gas services primarily in the US Midwest.

DTE Energy
DTE Energy is a Detroit-based diversified energy company that operates regulated electric and natural gas utilities in Michigan, alongside non-utility energy businesses.

Xcel Energy
Xcel Energy is a regulated electric and natural gas utility that generates, transmits, and distributes electricity and natural gas to millions of customers across eight Midwestern and Western U.S. states.

