The company put the average customer bill at $80 for the 2025 fiscal year, up from around $50 during in 2020. The company projects average bills will continue increasing over the decade, reaching as much as $121 by 2030.
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Atmos Energy made $3.6 billion in capital expenditures during the fiscal year ending Sept. 30 — an increase from the $2.9 billion in capital expenditures it made during the prior fiscal year.
The company also expects to make another $4.2 billion in capital expenditures during the 2026 fiscal year.
The company also put the average customer bill at $80 for the 2025 fiscal year, up from around $50 during the 2020 fiscal year. It projects average bills will continue increasing over the decade, reaching as much as $121 by 2030.
Those top-line capital expenditure numbers were among the highlights of a conference call conducted by Atmos executives on Nov. 6. Atmos Energy officials also released additional fiscal year, quarterly and regulatory information to investment analysts. Other details include:
Fiscal Year Data
- Atmos reports that about $1.3 billion in 2025 capital spending — or 44 percent of this year’s $3.6 billion total — was used to repair and replace transmission and distribution pipelines.
- Atmos reported $963.4 million in distribution income and $596. 6 million in pipeline income during the 2025 fiscal year. That compares to $854.5 million in distribution income and $500.9 million in pipeline income during the prior fiscal year.
- Some of the key income drivers in 2025 were a $184.1 million net increase from rate adjustments, $26.7 million from residential and industrial growth — primarily in the Mid-Tex divine — and other factors.
Quarterly Data
- Atmos reported $936 million in capital expenditures for the three months ending Sept. 30, as compared to $808 million during the corresponding quarter in 2024.
- For the three months ending Sept. 30, the company reported $219.5 million in operating income, up from the $185 million in operating income during the corresponding prior-year quarter.
- The company credited the jump in operating income to a $13.9 million net increase due to rate adjustments, $5.1 million increase from residential and industrial customer growth — particularly in the Atmos Mid-Tex division — and other factors.
Regulatory Actions
- Almost said that with the adoption of House Bill 4384 from the most recent Texas Legislature, that the company now expects to begin receiving recovery of 95 percent of it capital expenditures within six months of making them. HB 4384, which makes adjustments to the regulatory process at the Texas Railroad Commission, also means the company will receive recovery of 99 percent of its capital expenditures within one year of making them, according to Atmos.
- The company reported that its pipeline division implemented on Nov. 1 2025 System Safety & Integrity Rider that allows for the recovery of certain safety and integrity costs. The authorized recovery from the 2025 rider is $23 million, according to Atmos.
- Atmos implemented a $138.5 million rate increase for its Mid-Tex division as part of the Rate Review Mechanism process.
About Atmos Energy
Atmos Energy Corporation, based in Dallas, is the country’s largest natural gas-only distributor. Atmos serves more than 3.3 million distribution customers in over 1,400 communities across eight states located primarily in the South. Atmos Energy also manages proprietary pipeline and storage assets.