Tom DiChristopher

Awards support factory expansions, production Nine projects selected in 15 facilities in 13 states The US Department of Energy plans to invest $169 million to support electric heat pump manufacturing

Gas utilities continued to seek regulatory approval to invest in procuring and transporting renewable natural gas (RNG), but regulators and policymakers in states with active building electrification movements are sometimes wary of those investments.

In its long-awaited notice of proposed rulemaking, the US Treasury Department incorporated the so-called three pillars of additionality, deliverability and time-matching, setting a high bar for hydrogen facilities to claim a production tax credit.

Despite efforts to curtail gas grid investment, the industry’s total leak repairs dropped year over year, and the future of gas proceedings have clouded capital spending opportunities.

Easing macroeconomic headwinds and attractive valuations create a positive backdrop for gas utilities, though sector-specific challenges will make 2024 a stock-picking year, market watchers said.

Without substantial building electrification opportunities, the gas utilities leaned into demand-side management, renewable natural gas and other strategies to plot a course toward state-mandated emissions reductions.

Without substantial building electrification opportunities, the gas utilities leaned into demand-side management, renewable natural gas and other strategies to plot a course toward state-mandated emissions reductions.

Natural gas utility operators continued to invest in renewable natural gas production facilities at the start of 2024, but some early investors in the sector are considering selling the assets or pausing further spending.

Building codes that influence construction across the US will not include minimum requirements for electric appliance readiness, rooftop solar or electric vehicle charging after industry groups successfully appealed their inclusion in the base code.

At an annual gathering with the financial community, US gas utilities said they see a shift in policy conversations, with renewed concerns about affordability and reliability balancing out a pronounced focus on decarbonization in recent years.