NorthWestern Energy : BofA Chicago Round Robin
NWE
Overview
3
NWE - An Investment for the Long Term
Pure Electric &
Gas Utility
Solid Utility Foundation
Earnings &
Cash Flow
Recognized as one of
America's Greatest Workplaces
Attractive
Future Growth
Prospects
Financial Goals
& Metrics
Best Practices
Corporate
Governance
4
5th Best Governance Score
About NorthWestern
Montana Operations
Electric
413,400 customers
25,390 miles - transmission & distribution lines
1,065 MW maximum capacity owned power generation
Natural Gas
214,500 customers
7,354 miles of transmission and distribution pipeline
17.85 Bcf of gas storage capacity
Own 28.2 Bcf of proven natural gas reserves
South Dakota Operations
Electric
65,300 customers
3,735 miles - transmission & distribution lines
420 MW nameplate owned power generation
Natural Gas
50,500 customers
1,851 miles of transmission and distribution pipeline
Nebraska Operations
Natural Gas
43,300 customers
830 miles of distribution pipeline
5 Data as of 12/31/2024
The NorthWestern Value Proposition
+
~5% Dividend Yield
+
Base Capital Plan:
Incremental Opportunities:
4%-6% EPS Growth
> 6% EPS Growth
2025-2029 Capital Investment
($ Millions)
✓ Data centers & new large-
load opportunities
✓ FERC Regional
Transmission
✓ Incremental generating
capacity
(subject to successful resource
procurement bids)
=
=
9%-11% Total Growth
>11% Total Growth
$2.74 billion
of highly executable and
low-risk capital
investment forecasted over the next five years.
This investment is expected to drive annualized earnings and rate base growth of approximately 4% - 6%.
See slide titled "Strong Growth Outlook"
for additional information.
6
A Diversified Electric and Gas Utility
NorthWestern's '80/20' rules:
Approximately 80% Electric
and 80% Montana.
Nearly $5.4 billion of rate
base investment to serve our
customers.
7
Data as reported in our 2024 10-K
Highly Carbon-Free Supply Portfolio
MT
SD
8
Contracted energy from
Colstrip Energy Limited
Partners (CELP),
Yellowstone Energy
Limited Partners (YELP)
as well as a majority of
the contracted wind,
hydro and solar are
federally mandated
Qualifying Facilities, as
defined under the
Public Utility Regulatory
NWE
Policies Act of 1978
(PURPA).
NorthWestern does not
own all the renewable
energy certificates
(RECs) generated by
contracted resources
and periodically sells its
own RECs
with proceeds
benefiting retail
customers. Accordingly,
we cannot represent
that 100% of carbon-
free energy in the
portfolio was delivered
to our customers.
Based upon 2024 MWh's of owned and long-term contracted resources. Approximately 58% of our total company owned and contracted supply is carbon-free - better than the national average of ~41% in 2023. (eia.gov table 7.2b)
Strong Utility Foundation
1) NWE rates are average for 2024 - total residential revenues divided by total residential loads delivered
Electric source: U.S. EIA -
Average Retail Price of
Electricity, Annual for 2024
Natural Gas source: U.S.
EIA - U.S. Price of Natural
Gas Delivered to Residential
Customers for 2024
• Solid JD Power Overall Customer Satisfaction Scores
• Residential rates below national average1
• Solid electric system reliability
• Better than average natural gas leaks per mile
9
Solid Economic Indicators
Source: Company 10K's, 2022/2023 EEI Statistical Yearbook - Table 7.2, and EIA.gov
Source: Company 10K's and EIA.gov
10
Disclaimer
Northwestern Energy Group Inc. published this content on March 24, 2025, and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on March 24, 2025 at 20:23:26.056.