To our employees, communities and shareholders:
Energy is resilient. In fact, our entire economy depends on its resiliency to fuel homes, businesses and entire communities.
And because of our vast and safe distribution system and an abundant supply, natural gas can meet the needs of millions of people who depend on it—in nearly every circumstance.
So, in 2020, a challenging year for so many, we matched our energy’s resiliency and continued stepping forward to serve our customers—all while focusing on a better, more sustainable energy future.
- We became one of the first natural gas companies to commit to becoming carbon neutral by midcentury
- Our infrastructure upgrades program continued to help us reduce methane emissions, with 2019 marking a 39% reduction since 2005, moving us steadily toward our goal of a cumulative 53% reduction by 2025
- We engaged in regulatory initiatives in support of studying and addressing quality standards for biogas and are currently seeking approval to offer renewable natural gas
- Newsweek again recognized us as one of the “most responsible companies in the nation” for our corporate social responsibility program
As we adapted how we work to keep our communities safe, we also asked ourselves how we could better meet the needs of our customers during the pandemic.
- When we matched new and increased customer and employee donations to DollarHelp, up to $500,000, we raised nearly $1.9 million to help thousands of families and small businesses struggling to pay their bills as a result of the pandemic
- We donated $250,000 to local food relief and meal service programs to provide additional assistance to every community we serve, in addition to more than $5 million in annual community support
- By expanding our assistance programs and offering a one-time bill credit to qualifying customers in Missouri, we assisted 7,000 customers impacted by the pandemic
And while we navigated the pandemic, we still delivered a solid performance in FY20, showing consistent growth in our natural gas utilities.
- Our long-term net economic earnings per share growth target range increased to 5-7%
- We accelerated our capital investment plans by launching an increased five-year capital spend totaling $3 billion
- To drive annual rate base growth of 7-8%, we invested in capital, including infrastructure and technology upgrades
At Spire, we are as resilient as the energy we provide. And in every circumstance, our promise is to keep stepping forward and working toward a better tomorrow for our customers, our communities and our planet.
In the pages ahead, you’ll discover how we plan to keep the momentum going in 2021 and beyond.
To the future,
President and Chief Executive Officer