Investor Presentation - September 2021
Our Spire utility portfolio
Alabama
Gulf
Mississippi
Missouri
Primary office
Birmingham
Mobile
Hattiesburg
St. Louis
Employees¹
947
123
34
2,424
Customers¹
424,800
83,400
18,400
1,186,500
Pipeline miles
~24,300
~4,300
~1,200
~31,100
Rate base (Millions)
$5882
$1082
$383
$2,7804
Return on equity
10.40%5
10.70%
10.03%
9.80%
Equity capitalization
55.5%5
55.5%
50.0%
54.2%
¹Employees as of 9/30/20 and average customers for 12 months ended 9/30/20.
2The Rate Stabilization and Equalization (RSE) mechanism uses average common equity, rather than rate base, for ratemaking purposes. Amounts shown are 13-month average
equity for rate year 2020.
³Mississippi net assets less deferred taxes for Rate Stabilization Adjustment (RSA) purposes, based on rates approved effective 1/12/21.
4Rate base as filed Dec. 11, 2020, in Spire rate review request.
5Terms of renewed RSE, effective 10/1/18 through 9/30/22. For 2021, Spire Alabama qualifies for a 10 bp increase in its allowed ROE to 10.5%, based on exceeding the threshold
number of miles of pipeline replaced in 2020 under the Accelerated Infrastructure Modernization (AIM) mechanism.
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