NWN - Earnings call transcript Q4 2020 | Northwest Natural Holding Company

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Operator

Good day and welcome to the Northwest Natural Holding Company Fourth Quarter 2020 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Nikki Sparley, Director of Investor Relations. ahead. go Please

Nikki Sparley

Good XXXX Tom. welcome our to Thank call. morning quarter earnings fourth you, and

As things on reminder, forward-looking may a some may statements. morning said or They contain this are occur. based not management's which that assumptions, will be

our In non-GAAP adjusted today, measures. addition, comments reference some of

For reconciliation our of press measures of and please cautionary statements, end a to at the the complete refer language these other and reconciliation release.

XX-K later today. to expect file our We

website following As financial be our mentioned, this available calls these recorded is community. the call. will and the are teleconference being for note Please on designed

additional If directly after you are an investor XXX-XXX-XXXX. call and me have contact questions please the at

at media contact News, XXX-XXX-XXXX. Melissa Moore may

Speaking will our Executive Frank that, it Frank with David this Executive and I of Anderson, Vice be Chief other prepared turn David. members Financial and Officer; Burkhartsmeyer, and remarks questions. available, Officer. morning have and your With will along to then are President David Team President Senior and answer to over Chief

David Anderson

by utilities. service. key of platform of operations $X.XX We while financial performance challenges Nikki, together report and our strong coming though, Well and of year new successfully our customers the income our navigated XXXX, welcome was all daily as we contribution of at and from many continuing a per XXXX driven a XXXX still superior unforgettable. our pulled our the Well, and that's good know our proud We aspects and achieving solid number water thanks, employees lives, pandemic call. but to affected year-end gas of morning provide I'm from everybody for net operational utility The with way goals. to share

to front, in everything from gas restoring cetera. towns COVID, et Christmas social our handled over successfully field crews operations navigating to service the unrest several On wildfires

ago, provide weeks the natural few in event. an reliable our the and service a system occasion once extreme rose weather again employees to a through gas Just

amount was bills. overall knows the help snap. of mitigate and prices the customers’ spot everybody as positions country gas purchased important work minimize hedge the the the This market and incredibly to across on from our widespread cold to storage Our spiked as facilities to impact

also Our ample of the balance at capital supporting one XXXX, largest the company's we sheet strong in on programs history liquidity. executed In with aimed remains reliability.

to sustainable $XXX continued has tightest had is no most of perspective infrastructure. From fundamentally very operate was territories. in truly nation sound with XXXX, in one record no In million XXXX low both We our unemployment a the a and unprecedented. our bare the natural growing iron systems in that an service invested pandemic, gas modern over economic economy steel. and cast we we the Prior system to and nationally

economic is levels. XXXX in see Portland's customer actually the X.X% in XX.X% several issued matched to XX%. actually April. high In metro Single-family recovery Northwest price with rate national were were single-family steady to the permits important sales about we essentially and right growth. with X.X% region see of growth to Natural, continue year X% activity At up continue areas. at growth from And We now remains down good last Portland strong. XXXX unemployment in home new that's December a housing from compared

over connecting conversions months New XX,XXX the construction plus translated ended XX XX. in December during last meters

timelines vaccines home to best commissions, conditions, system normal worked what Enhance and financial return agreed for very same is as to the growth to working with offset also makes rate parties for to sense period, forgiveness bill assistance continue providing customers evaluate customers includes practices. economic a and given strong closely businesses collection on customers. roll-out staff resuming customer business to while for restrictions reopen. funding and the vulnerable Legislature season. way Oregon processes stakeholders relief. and the bill determine [about] We've program expected related to to pandemic. and of to pandemic ease the are the allow Still, and and payment of over partially to to we some some commercial customers overall by the $X provided variety for during know the was over the provide times we the warm to a XX,XXX construction and additional bills To result programs these due last difficult a with loss The we've households single-family their Our pay this X.X% million of based agencies for heating plans to stay

and million to about donated campaign. communities special We COVID-XX non-profits our a in $X initiated also employee giving

previously low. approved bills remain took on X to November Oregon new Gas effect continue rights year. For last

paying are customers XX bills for than years did today about ago. they their XX% Our plus

a service of In and reliability gas to $XX conducted source. in June, affordability a in to we back affordable, a gas credits strong Stay, in gas homeowners that safety, and to addition, preferable million cooking. XX natural bill out natural There's for study prefer electricity XXXX. in heating customers. pass territory according record and Oregon recognition is gas a our fuel natural storage X preferred December make efficient

then appreciation Natural In their also fact, an the over would the of second increase XX% the annual XXXX XXXX of survey. satisfaction for ranking our pay consecutive electric XXth in a fourth finally, back in JD the home the showed power’s in utilities West over And has they in increases. Customers dividend all Northwest residential year that respondents gas approved customer Board by quarter large dividend more $XX,XXX said amenities home. among

Frank more let and only it long the provide to over details get a We MYLC little record. on that, that with of to me are one With bit be financials. the proud turn shareholders companies Frank? three the to on to return

Frank Burkhartsmeyer

impacts be Direct as utility such and of revenues that I These COVID to the XXXX PPE, commission's deferral and David quarter the of our XXXX, you, the fourth of will and deferrals types discussing And may financial with lower and begin that additional certain netted of year meals COVID-XX Thank conclude future financing sheets the good proceedings. determined for and and guidance XXXX. approved outline the be travel In highlights then expense morning, the accounts full will everyone. Prudency include and costs results. by are reductions bad with debt associated recovery expense be recovered. loss and in against deferral. entertainment liquidity and costs review revenues. term

regulatory the related $XX While revenues XX, million financial an are our Of of Through business December to incurred COVID-XX. and pre-tax some to we this lower model estimated of million due $X.X the incremental experiencing were is costs to effects resilient, impacts we pandemic. accounts. deferred

revenue that recover natural since the $X.X been we charged the customers primarily in utility due in million decoupled. million. savings and financial usage not stopped million late total collection $X.X recognized customers the [technical of to the The temporary remaining processes when gas initiated measures from normal effects be are of future P&L that of market service summary, are which through million from not to further be to pandemic, savings COVID XXXX. was $X.X of customers impact a of that provided we addition lower $X.X XXXX slightly that fee cannot In difficulty]. to cost the mitigate in In order has begin lower approximately rates period suspension In will recovered

water earnings Turning on successful of rate are shares the share year-to-date using to utilities. an investment statutory XX.X%. our gas we raised in after-tax and describe tax note basis to our XXXX comparisons of equity in X.X detailed financial drivers that reflect results. Also million June issuance Note per earnings I'll fund the as

and Northwest reminder, earnings a the winter first with majority Natural’s heating earnings As and of the a are quarters season. fourth revenues during generated in seasonal

quarter XXXX. we share to to accomplish am X, in us acquired million commitment from XXXX. savings Texas for proud we tax customer For offset and the in new increased $X.XX holding new decreased The the Contribution O&M Oregon while I this benefit $X.X higher efforts. margin reported $XX.X $X.XX the per utility an our Washington impacts share the from related from from of work expenses at hard net reflecting share partly of $XX.X continuing or operations providing $X.XX same distribution service. of allowed of system. cost and quarter, and our businesses part period in million Depreciation per to segment million by other and by increased share the per gas exceptional depreciation Utility to or ongoing effects employees water increased and posted expense general rates still whose $XXX,XXX taxes gas the Utility investment company. in general income per compared COVID-XX. lower Oregon increase rates $X.XX growth, $XX.X million in of the in in related COVID-XX. the Offset in the assets in expense beginning and of the our November

continuing reported or or $X.XX of per Reform operations Commission included net Tax the or $XX.X $XX.X of Pension income for XXXX, of per year net full from share on disallowance an For compared a $X.XX related we million share results XXXX. per Oregon XXXX $X.XX to regulatory to income million share and expense.

in growth project adjusted and an in contributed and on largely of basis customer to the earnings of per constraints decline increased The million the effects was also Oregon which entitlement we and and revenues margin market on marketing Utility In utility Oregon collection constraints from $X.X in collectively weather was revenues warmer rates as processes. the operations disallowance related $XX.X $XX.X is continuing share year-over-year $X.XX of XXXX XXXX XXXX. decline to non-GAAP to the by the that lower million a customer Excluding normal due by per XXXX of positive million. the COVID $X.XX compared share $X.X an segment, Washington weather Northwest for result XXXX, distribution million utility expenses million. from This pipeline results. late growth expansion remaining gas XXXX and higher in from The and effects to margin and due first quarter order. additional is $X pipeline suspended fees declined lower fees offset curtailment reduced

pension of impact net exception income. With on the quarter order disallowance has this no first the

offsetting in $X.X O&M describe recognized of Oregon additional which million. discussed This taxes first moment. order decrease the As in expenses expense $XX and as XXXX previously. quarter were a Utility with other income contractor adjustments other the as declined and measures is I'll through and higher as expenses costs as million described $X.X associated in management service included underlying was of in I by increase driven Pension costs. professional the expenses savings related million. $X offset partially expenses well by This offset moving increased This cost to earlier. a expense was in million compensation resulted O&M

is this in recovered expense now However, rates.

high Over have our historically we levels. the last gas invested in system years several at

general expense As in increased a result, taxes million. depreciation $XX.X

income. water Net on and that the revenues. utility the wastewater a into utilities management tax $XX wastewater, included million higher note offset water capital order effect related Finally, benefit $X.X invested $XXX earnings of Oregon from XXXX resulting partially $X.X asset holding CapEx, the net for other income we in with and are the lower expense utility million significant lower gas million from from and segment with companies of to million our on million no business increased businesses expenditures $XXX expenses acquisitions. by A implementation

Our business of balance XX% have approximately to and and liquidity. impacted. with go meters regards negatively been are off customers COVID-XX customers ongoing they strong With as ample commercial seen their out remains the Nonetheless, some with of we industrial our their sheet have bills. commercial shut current effects of

closely to commercial We -- monitor and levels will usage monitor losses. customer continue

to cost regarding mitigate We will disciplined also be management these effort circumstances. in continue an to

territory Moving utility range outcomes upgrades. customer projects or the renovations today reinforcement, earnings policies, $XXX The laws, guidance no significant back XXXX $X.XX initiated or changes regulations. regulatory $XXX the for resource changes assumes to Gas weather XXXX to in center Guidance of in I'll the per are conditions in across million guidance. significant share. company turn growth, range, average in legislation on to to million or prevailing $X.XX expected and be to and call to continued significant that, year With mechanisms, David. related capital service system including expenditures technology our the financial

David Anderson

All right. thank you, Well, Frank.

reinforce no made our challenges, In investments central August, this regulated water sold the be California. completed strong in gas superior that [indiscernible] the trail the in in gas December the remains progress and Proceeds business our Ranch Storage While investing and front project our on customer were service interest create same our the maximizing Gill and and pipeline the a we west we year water growing providing and the year can and in we in sale platform build sale to by reinvested are our that sector. last strategy. two businesses. sales past highlighted in returns of diversifying and with decision from from bring the We wastewater focus water our to past expected sector. Facility the longer our utility This value natural of to utility

and XX, XXXX. customer almost of organic water experienced to December months utilities X%, be Our ended over the exact, growth wastewater X.X% XX

also infrastructure utility We water general filed completed first rate improvements our and case.

temporary activity, pursuing first to remain potential continue Washington Texas. excited expansion a slowed closed we -- to -- activity portfolio water acquisition about the excuse acquisition continued and opportunities. make within footprint our to this in COVID our I very slowed investment acquisition new wastewater -- business. able And while acquisition me, our we made acquisitions add temporarily Although to temporarily smaller utility were still and slowed in I existing remain

future to gas strategy of pillar renewable and system. key Another utility working a aggressively our pursuing decarbonize is our

heat can Before Northwest Natural meets our our starting electric water concurrent have system the customers energy gas service the peak much and positions gas And the emissions. important never reliability about of our XX% the reliability seen through the the emissions footage available. to system as the how you delivers well way only total help as system about winter. drive recent yet underestimate that of winter, residential energy electric during one used it's our is associated for remember Oregon's region In as and as point, accounts XX% needs a in square of take greenhouse I coldest the territory approach, in space the during with than capacity X% important gas more in even weeks, serves the our that Disadvantaged to days, in decarbonization twice have we in with affordability. Northwest, and peaks ensures on

of components by you three of walk carbon through me vision XXXX. neutrality Let our

natural usage. aggressive the efficiency industry lower they which flat, how in grown gas pursue by First, of has U.S. efficiency. But to we to intend testament gas the a number to demand residential energy remained and the XX continued -- is the foster continue past energy In to years, XX%. well almost customers has

half in the home. that the XXXX, of customers in used natural amount consistent residential Our used more today as size of per they despite homes gas average clients of and growth

of estimated system. nearly feet. Oregon in variety technical of Second, from potential Advance waste throughput economically. About feet getting need estimates the to much we're amount we trillion potential, technical focus RNG show we now to striving integrate streams of nationally, be in gas XX our early collectively cubic about state. can as into same our of renewable about natural XX XX% as a potential as or supply The throughput. the vast to technical all billion on alone of there's cubic is market to all residential Clearly, gas

and there for blended, We hydrogen methanoate dedicated We three also believe process, the hydrogen power are pipeline. to to see for potential the the applications hydrogen from added gas being systems.

with a And possibility is hydrogen many capture natural already methanoate about technologies, energy Canada as huge -- significant Australia years a fact technical Once lot opinion. Europe, U.S. that blue tanks The is is the Natural new in the ahead go storage the role great incredibly about role can clear the my gas And efforts renewable in going to we're they're example is area. green has advantages Europe through. made to networks envision Northwest a exists paired we in transition And infrastructure Australia's is strategies about which In utilization doesn't in the molecules degrade. to and playing companies. gas when It Europe gas today It U.S. We agencies, of a with system send and sector gas long gas policy. already existing XXXX, that that and we the duration and watching important natural team they think the was and and and realize facilities. storage has meet think carbon from store And hydrogen in projects one advantage. across decarbonization government efforts system. storage. RNG also and of in thinking learned cost this the of gas of infrastructure, this place to all energy we're provide infrastructure built the energy and

is customers. And Natural cubic about key has battery. that's and trillion first we lithium in example, of billion a would renewable that include XX that steps to working and methanoate and efforts. In energy gas in new We're has X on natural hours where bill propose this XX, decarbonization hydrogen committed Northwest first to our system. XX-year For Bill targets cost, we're legislation We to excited Senate training procure its of accelerate electric of storage for board region's leverage utilities is hydrogen working renewable pushing water the and of early Eugene R&D feet Oregon more. that include Oregon, just sets our as resilience facility. about today, hydrogen testing are to part helping these infrastructure underground to our gas be policy system with and about announced storing a for RNG would project $X solutions started million transition. equivalent megawatt the for for investment that in In And Northwest our us have ways blending renewables. our kind are Natural today's actively existing

to while how diversification we energy than critical our climate reliability the furthering gas for Now goals, also is to ensuring and serve. communities system us ever, infrastructure more it's collective clear our

it open for we'll Tom morning. up for thanks So that, joining this us And with questions.

Operator

Chris will go ahead. assemble our And roster. Please question with and Siebert [Operator first Williams. now from session. We Instructions] pause begin to We question comes the answer Ellinghaus will momentarily the

Chris Ellinghaus

morning. good everybody are How Hey, you?

David Anderson

Chris. Hey,

Chris Ellinghaus

David, about the crisis to through little can help Texas will go you with and talk that think seemingly process you how electrification legislators a diversification, the you have bit education today? and with decarbonization, that municipalities

David Anderson

thanks for the And Chris, as state. is know Yes, home Texas question. my you

took all really But at we all that think out what And I heart that need situation. goes we all -- And make a to that sure from that. place I that. with it's the said, to my sad very look So learned there. that we very, down

the to And critically resiliency have you it current that. proves it I get fan one some very ability the think think a very we But been long And and time electricity. I a of that important in region gas all Chris, eggs you your electric career. systems I infrastructure had is you diligently not here. redundancy apply worked natural if of company have basket. even outages on. have aspect I've I'm where and the a for systems point a hard to and work. gas fireplace when making to everybody to and up need our had electric period It's also your had is of of you severe natural started big gas, But my

You And place. in I household own know that appreciated. cooking my in had to the have ability greatly was

to So will ensuring policymakers in to I are I make my prepared understand as and happen. And but used are the decisions that it years -- not want all hope Texas close good be place. they those that's I I I'm we don't in events XX, -- that that XX is because we sure know that learn we to from these. for our Chris anymore, do as ago, is making region, infrastructure

extreme to It believes in I change happen. you this going events to climate that are it believe do. weather continue If shows like which

to doing on So warm provide we to that we're customers they we these those all that services need so days. our can coldest to stay make sure

Chris Ellinghaus

kind point failed, the bill electrification Were you probably interaction well with that that bill? educated they some they the that Washington, brought legislators. In had group of that at

David Anderson

probably And I'm legislator, whether tell going of trades, out bill lot was the a Well, unions, brand grocery and pointed put of was things bill And then a times amount will was to industry utilities a gas the business time. then in the the bills guess a some kind not not outcome currently from And building or good once educated out to that the bill they I what new it, pushback stores, electricians, happened, restaurants, I this and everything are on he that like you, the freshman I not, but more think was are brought by started process. that as people so -- buildings, he tremendous was looking probe associations, once is it written figured the in after was for there happens hopper, the forward bill that region. hopper. really move decided at of not at the to

I'm that So I optimistic, Chris, stay will that cautiously way.

You going think are dead. this at bills mentioned forward. don't move like does it the I juncture, dead. not I it's look word to think ever But

Chris Ellinghaus

side Okay. get much are. David, you when that also than I was we saying hydrogen is further a thought on lot ahead you're you of Europe hydrogen ask to the we'd going data.

why is this could a companies But hydrogen make if from at available? really, of So there's investments. on some pilots necessary are here information decisions why to point, -- Europe the lot start

David Anderson

old a And start they need understand -- out to with went a turn And want Kim bit electrification you, not what path, support. amount was I'll gas tell that Heiting in here talk the we will I Europe value quickly enough it Europe. Chris, of quickly, I'm And path I to of little of is saw the she of this out they maybe figured to to about more or over I went in be we here Texas. solar and the think the policy where -- policy is support, And way pretty system not down I infrastructure. that figured doable they that think only but down is the the because the electricity with renewable. to did think that's us, today, what electricity in ahead I And it had got had renewables country. to when we wind

energy But here Chris be if to these the you to policymakers education and going understand little systems. The will. sure Ken forward a systems anything that there's think systems that importance of you that? I make to add clean energy work on of and process to bit like those would can energy with they an So green

Kimberly Heiting

here do challenges, policy well. we you bringing to that ask, No, to that I are it that's the Bonneville to rate the mean, would part of like technology demonstrate we Europe for here to methanoation which applied focus the I pilots? that batteries, contracts. see and step, our applied level, we're think technology overlay equipment areas in federal with the need need being had project that there covered Well, Eugene time to that these accelerate our you've are level overlay? Environmental one and on of do proven can ask and in the working methanoation the over that's already trying we scale. things why electrolyzers, to beginning state electric so for And of that us Foundation, treatment mean, board as next of on we is Canada, then I mentioned Eugene that in policy water and that towards or David in make can what sure we really be we technologies

to possibilities see the to So -- lots expect interest and that grow. only now very hydrogen RNG around and we're certainly of networks gas I pleased we of level think

Chris Ellinghaus

question. last one Okay,

you from RNG the in that of guys? we expecting as far As the you be these year, of had announcements should a earlier announcements types stream

David Anderson

that Chris look the our to utility country, do a we've producers decarbonize we've can as we when at and aggressively decarbonize we've the in on can everything been product to to doing our had The -- we move footprint lower working producers. got a or what last their system through system of I to upstream tightest our will with been that going pipe and front we all this is line. do from only the that piece buy pie to we responsible along

the would hope your on renewable we like I to get the as yes that we can. possibly question to answer So product we is as pipeline much is

Chris Ellinghaus

Appreciate much. you very thank color. Okay, the

David Anderson

weekend. Happy Thanks Chris.

Chris Ellinghaus

Sure.

Operator

from Akyol go comes next question The with Stifel. Please Selman ahead.

Selman Akyol

performed can first Thank well. couple I is around everyone quick water of of hope you you. make in assets Hello, mean, Texas? comments doing the all, things, some just how A in

David Anderson

sides start assets slowed I waters In just COVID, down in more of mentioned general, are on. as Yes, we [indiscernible] add prepared those as I my acquisition give safety talk want on saw on what activities table. both just freeze-offs Justin, the a the update to think we to bit and But things lot we're Texas operations. trying know saw the of our reasons And remarks pleased I and for of that with very is will efforts. on little I an you people of like possibly in our a can kind we

Justin Palfreyman

absolutely. Yes,

Our Texas week. last operations other similarly utilities to were many water impacted

restore XX online systems systems generally the resulted However, about outages to other our some to get team of within hours reacted and of half able service our in on most We service very rapidly very our relative affected state. and within quickly, affecting freezing there some back our overall the of and XX water customers. customers power utilities were and that the in over were bursting pipes about of half to

from team down our pleased response that So to we're see there. very

Selman Akyol

I quarter in regulatory prices standpoint from gas relief thank to the that from update. increased bad comments, or part any, your of anticipating incremental a of the first in well as guess nature? anything anything referenced, with for be opening for as In debts no us needing terms you anything you or reason Great, cold of demand the of

David Anderson

also did with country get But that purchases not we but and offset system, had not storage for facilities the well. additional we and Selman Arkansas of didn't we like bit some But hit have got things little our we worked did like the did. that. a rest pretty cold No, the like some to that things fairly Texas and

And in good so we're shape.

issues a had in not unprecedented situation good shape. some liquidity they've to my in that ran were of we're with So finance that peers the

Selman Akyol

Glad hear the that. to one then last for just And me.

You of coming hydrogen be facility. pipes you guys anything that's about Can X% on referenced testing talk leakage going just out that? blend how your to at noteworthy training

David Anderson

Kim, do take to that? you want

Kimberly Heiting

blend well, at level started -- with several that's kind And their and training we I fall we it. call specificity protocol. last out amazed we kind and our took where were up own we our Fast town our in to protocols. pleased really when should we our testing to buildings Europe, really test of when Oregon, we're they in build were the forward, we Yes, Yes. trip training back Sherwood there, of we're facility starting have of

a this kind to good testing. of really it's So spot do

looking we of at we were X% and equipment. fall, last We really that blend So really on the focused performance detection and were began the leakage equipment pleased.

a purchased detection to equipment. testing test use moved We've blending of expected. as on end on performed hydrogen leak the blend now piece also equipment to that We

So that's fireplaces, we haven't top. And pleased. really unexpected, cook we've far anything water been heaters seen

this pipes high that sharing building for be facility. is we're testing effects technical of components of So not some rest the plan and also data different the blends also blends equipment, organization working our just And goal in the the is companies the the on storage year. doing use analysis, in doing deploy a the the we're on end year. but huge facility that We're and to by X% hydrogen internationally with are entire database, serving of technical end a out the with others really, blend the where

and learnings all So our plan. we're those taking into those applying

blends on I locations the at is think the great where is different and near-term pipe we're on we see step to to the at that system maybe characteristics the begin doing probably look our the for of areas percentages our in system based serving. final audits something

with a exciting on lot and peers So to lots also our who we're collaborating staying us. are close of work going

Selman Akyol

[indiscernible]? that And that's might the just between you [indiscernible]. all methanoate the blend difference about mentioned But the in

Kimberly Heiting

there methanoate dimensions two this in even you methanoation one hydrogen components. the is kept can in testing interested I obviously any you systems, industrial and the have maybe hydrogen, don't time And case, pipe. the we think that pipe we're the with deliver before end, think hydrogen equipment put limitations you Then will that in three think and the facilities have U.K. were Obviously built on of are specifically really But they an conventional pipe to XX% amount three hydrogen to to that of the or that power blending, can we Yes, you the to a near-term in about of or facility. is communities molecules. components process two course power and that be COX take between any dedicated new industrial you it and hydrogen. gas hydrogen of that are have over which it facility in from the probably the XX% applications point, interchangeable because gas with at Apply waste gen equipment at high very blending see issues or natural

biogenic You can sources. also use

let's renewable facility a hydrogen. and, create electrolyzer with gas So and an pair natural methanoated

believe we see some of be that so we And of in critical necessary there's play. all right kind will that And with to being to to be paired advantages that we're components of different neutrality carbon and of them us around scenarios XXXX. those that. gas now again each get what planning doing around tools those one will in renewable applications And natural

Selman Akyol

wondering to to one got plans more. about, just along? comments, there can in anything I ask there and talked support. with I'm But that it, is with apologize. your and you David government I from I'm Chairman talk guess, help to your policies on maybe about head AGI just And you Got anything going

David Anderson

in number did Oregon, mean, here one, can Yes, ways. bill, support, can we Senate renewable what gas in with see Selman, thank Bill I you policy I a we the call I you. natural what XX. think, come various mean,

do to So is that opportunities the agreed some I reasons yes, to the as support. help this But AGI Chair like level drive the that. year serve I this of something hopefully is at there's think to of one federal

tax need can come the that. can hydrogen of have some mentioned the it I this helping the of they other that But support to day a to have kind speaker of in was things leader of form Biden and call of and other we of ways like with system. me, industry see to on also some pointed discussions support credits the has out the had. the speech [Schumer] I'm the in in excuse issues Now administration forward. come move in transition I pleased

there's already asked do say the opportunity how build forward of have again, look to Chris this us an me kind as about for cleaner? levels country? And hope this great state it a argue do And opportunity better? we think most How and federal system at we at in Texas, I would of we too. just make I we make how do the level. energy resilient I is the all it So And

only activities support the the in whatever here I that level, states of think transition. we continue at state level, the all can part to but specifically federal move to continue this in states not to need and I'm to the we

Selman Akyol

Thank again. you once

David Anderson

Thanks Selman.

Operator

session. for I question closing This the back concludes like Anderson David now would to to conference and turn over our remarks. answer any

David Anderson

sign-off But thanks, information a those you information of And which Nikki the thanks Melissa by on Well, ahead safe for with any the of go side, to as And Sparley, on a Friday. contact got great you've press the us and is weekend. and as for your both and media great Tom. if their in release. that, contact and Moore questions Thanks have way. questions, point joining her warm your we'll everybody everybody have

Operator

The for you conference attending now concluded. presentation. Thank today's is

disconnect. You may now

Northwest Natural Holding (NWN) 26 Feb 212020 Q4 Earnings call transcript