that second outlook another company. Good strong National long-term results for night, Natalie. morning, indicator the great quarter Last you, Thank everyone. of reported are the Fuel solid yet
of Adjusted increase per earnings production businesses, significant with growth delivered in regulated were from the quarter. the $X.XX combination and share, segment's in growth our an year's per of the increase Gathering XX% increase. share operating in a which The drove prior along results Seneca's second double-digit XX% throughput
headwind quarter, long-standing our a the hedging mitigate during prices were this helped While impact. natural gas program
in our slide a very Last details long-standing both both will opportunity peers buyback growth this opportunistically published to think goal to of long-term compelling dividend investment I the significant and update through relative the highlight The our and returns quarter shareholders that the major returns proposition, share through we minutes Fuel. free what refresh our Relations hit to recently to to strong capital expected night, for outlook, flow Justin and few broader deck. our long-term want on generate earnings National announced cash set Tim highlight of value is a and one market, but the Investor is near-term take of delivers and a the we and program.
this for businesses our value with simple to proposition. our each contributing this of foundation The model, is integrated
the this occur quarter, our filed Supply both free in regulated reached a last we much of where to growth increases we and summer. businesses past our tangible resolve FERC to As settlement and activity regulated flow. near-term case pipeline with past is cash subsidiary our February, its rate sa.
W in This will utility ratemaking drive earnings Corporation expected shippers
settlement, revenues by went New the rates months. segment stay-out is & expect so total for to can so designed No required final rate X. Storage into file another FERC parties oppose approval the we in coming no the we There in year's of February will of XX% at increase about it grant annual effect increase Pipeline $XX period or revenue any time. million last
case increasing within with investment, Given we I expect rate year. new file likely of that of we'll Corp, regulations, cost the the modernization along with the level complying another Supply next expect
to first At the the of higher the last $XX Pennsylvania settled know, went corresponds increase Utility, rates expected which case winter our million effect the realized bulk heating August. as fiscal we in rate you We of in summer into the the year, and half season.
have the normalization years lessen to in York, weather clause a in mechanism should margin like in includes fluctuations. now structure rate we Pennsylvania temperature volatility recent we've experienced New which, due the our Importantly,
and filed Last fall, York. rate $XX are discussions a increase an case New that Confidential million we settlement requests to commenced in revenue. Switching annual have progressing.
year. and into point, update, fiscal impact diligently And effect and by the expected XXXX staff we of next say are parties. the we much through the isn't at go I fulsome there this on more hope Rates with a to beyond. can have this our process including to working are October call, While X
well businesses. X a modernization shortage rate turn performance growth Supply investments us. the in these to we rate investments regulated financial front together, to have we term, on have Corp., have cash over of drives of proceedings which deliver Added At Longer of will the to a flows. mid- high and potential make. to significant single-digit no in Utility earnings These -- our of the impact higher decade in investments and deliver have near-term base
In over this, a of The is it Tioga to and addition, I'm FERC quick making XXXX upside. example which additional late with we'll develop additional potential summer opportunities expansions continue FERC the our on optimistic progress date. status we for note time. the of and expect We're great of a provides Project Pathway our regulated have good calendar this project. One file in-service application to Tioga assets,
its Moving wells nonregulated an ongoing transition more and process started to to has the EDA. a with line I'm We the in program. Area-focused Eastern since happy about year our ago Seneca XX operations. than Development have made this in progress very turned with
in slide As twice to we best-in-class continue our will wells initial Page among demonstrate these you see EDA can results on our as expect peers. on be results, XX deck, of our Based wells the in next to we as amount Area. the modestly decreasing years, productive development capital grow Consequently, those expect production while few over Development deploy Seneca's of program. Western we our legacy
the approach further capital our our cost of integrated efficiency Seneca's to program, assets top of stand-alone drives developing improved improvements. structure On
company gathering divested ability The an returns our free positions cost pay allows to all structure and many that our leads the midstream Midstream environments. best-in-class to capital us gathering Seneca gas upstream While assets deploy third to significant design development beginning, additive. productively, which a program consolidated the cost to natural to peers parties, value From NFG operating or and believe cash is maximize nearly of more integrated through to and combined flow price we generate
but forward, pressure, been prices We I'm under optimistic of direction have the looking all know on natural travel. gas
onshoring are large part new as by on the soon significant to of industrial growth expect On build-out of and side, horizon, in driven electricity need pivotal and the with continue as manufacturing Natural centers is coming in a will year. source these immediate energy. clear increasing abroad. the all and will other gas facilities the massive demand play grow, meeting of processes, a next demands, solution domestically data I role of cost-effective reliable, the which term, both Longer demand energy LNG and
The environment demand industry new has infrastructure the the current regulatory to increased makes meet clearly this but building challenging. resource
result, sync, seems unlikely it volatility lead in to will completely could be a which As in significant and supply demand prices.
the way potential for through our into typically volatility. right we navigate X/X to We move continue the hedge to the is believe this We hedging about of year. as cycles fiscal production
upside well run. we've should this of In still have recent above at the taken strip seen add to positions advantage we amount we've year. a months, what So hedge of prices several contango prices good new
to share sized return to in pricing of our near-term a opportunistic It we each end, and a To $XXX also increased record, of growing through dividend modestly repurchases. years the last gives greater which certainty we us initiated paid March, positions be at track that shareholders XXX and Predictability to over additional buyback flow build for free capital the gives million to upon cash and impressive base XX. us in program. Seneca confidence and
shares. point we and positive low I shares significant to outlook back see a gas a prices near-term Fuel but balance at and challenged, sheet outlook the long-term great strong, Given businesses, the in our in integrated strength is this buy cycle. the as for National long-term value commodity natural price Yes, are our see opportunity the of
commitment strong on value visibility returning share the through delivering are proposition To bring future it on strategy and a team capital incredibly National in and to returns The free of all our buybacks. flow dividends simple: cash integration, of cash our and together, line about and earnings and are by driven to shareholders. is value and I growth executing to intensely shareholders to Fuel tangible focused optimistic sight
With call Justin. the to that, I'll turn over