Gas Distribution and Storage (GDS)

North America’s largest natural gas utility platform


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2026 priorities:


1

People: Retain and develop a highly engaged workforce across all our utility franchises

2

Safety: Ensure safe, reliable and compliant operations across all our utility franchises

3

Growth in customer base: First choice for customers; focus on core utility growth and execute capital plans

4

Capture value and efficiencies: Focus on outcomes; optimize processes; leverage our scale; and manage risk

5

Utility integration and operational excellence: Meet deliverables; continue to operate safely and reliably; and maintain customer service levels

6

Regulatory outcomes and financial commitments: Advocate for North American energy security; reliability and resilience and lead the way in proactive regulatory strategies


Strategically positioned assets

Largest natural gas utility in North America by volume, delivering up to 9.3 Bcf/day of safe, reliable and affordable energy to 7.1 million customers

Diversified growth platform

Rising demand across 7 jurisdictions driven by electrification, datacenters, asset modernization, major projects, new connections and storage development

Low-risk investment and EBITDA growth

Diversified utility footprint with strong growth drivers that generate attractive returns and visible growth


Strategy in action


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Invested C$3.3B in critical infrastructure to deliver safe, reliable and affordable energy

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Added more than 68K customers across the utility footprint, developing 50+ data center and power demand opportunities through 2030 and sanctioned ~1 Bcf/day of power generation enabling projects

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Reached positive settlements on rate cases in North Carolina and Utah, and filed a new rate case in Ohio

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Vital role of natural gas confirmed in Ontario’s "all-of-the-above" Integrated Energy Plan