NorthWestern Energy : 2025 NW Corp - Electric Annual Report
NWE
Published on 05/07/2026 at 04:17 pm EDT
YEAR ENDING 2025
ANNUAL REPORT
OF
NorthWestern Energy
ELECTRIC UTILITY
Docket 2026.01.001
TO THE
PUBLIC SERVICE COMMISSION STATE OF MONTANA
1701 PROSPECT AVENUE
P.O. BOX 202601
HELENA, MT 59620-2601
Table of Contents
Description Schedule
Instructions
Identification 1
Board of Directors 2
Officers 3
Corporate Structure 4
Corporate Allocations 5
Affiliate Transactions - To the Utility 6
Affiliate Transactions - By the Utility 7
Montana Utility Income Statement 8
Montana Revenues 9
Montana Operation and Maintenance Expenses 10
Montana Taxes Other Than Income 11
Payments for Services 12
Political Action Committees/Political Contributions 13
Pension Costs 14
Other Post Employment Benefits 15
Top Ten Montana Compensated Employees 16
Top Five Corporate Compensated Employees 17
Balance Sheet 18
vii
continued on next page
Description
Schedule
Montana Plant in Service
19
Montana Depreciation Summary
20
Montana Materials and Supplies
21
Montana Regulatory Capital Structure
22
Statement of Cash Flows
23
Long Term Debt
24
Preferred Stock
25
Common Stock
26
Montana Earned Rate of Return
27
Montana Composite Statistics
28
Montana Customer Information
29
Montana Employee Counts
30
Montana Construction Budget
31
Peak and Energy
32
Sources and Disposition of Energy
33
Sources of Electric Supply
34
MT Conservation and Demand Side Management Programs
35
Electrical Universal Systems Benefits Programs
35a
MT Conservation and Demand Side Management Programs
35b
Montana Consumption and Revenues
36
viii
Sch. 1
IDENTIFICATION
1
2
Legal Name of Respondent:
NorthWestern Corporation
3
4
Name Under Which Respondent Does Business:
NorthWestern Energy
5
6
Date Utility Service First Offered in Montana:
Electricity - Dec 12, 1912
7
Natural Gas - Jan 01, 1933
8
Propane - Oct 13, 1995
9
10
Person Responsible for Report:
Jeff B. Berzina
11
12
Telephone Number for Report Inquiries:
(406) 497-2759
13
14
Address for Correspondence Concerning Report:
11 East Park Street
15
Butte, MT 59701
16
17
18
If direct control over respondent is held by another entity, provide below the name,
address, means by which control is held and percent ownership of controlling
entity:
Respondent is a wholly-owned, direct subsidiary of NorthWestern Energy Group, Inc. At
December 31, 2025, NorthWestern Energy Group, Inc. owned 100% of the common stock
of respondent.
Schedule 1
Sch. 2
BOARD OF DIRECTORS
Director's Name & Address (City, State)
Remuneration
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
See NorthWestern Corporation's Annual Report FERC Form No. 1 page 105 for our Corporate Board of Directors.
Schedule 2
Disclaimer
Northwestern Energy Group Inc. published this content on May 07, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 07, 2026 at 20:16 UTC.