MDU Resources announces increased capital investment plan for 2026-2030

MDU Resources (MDU) announced a capital investment plan totaling $3.4B from 2026 through 2030, an increase over the company’s prior 2025-2029 planned capital investment of $3.1B. This increase reflects the company’s continued investment in safe, reliable and environmentally-responsible energy delivery infrastructure across its regulated electric, natural gas distribution and pipeline businesses. This five-year plan represents an approximately 34% increase over the previous five-year period, 2021-2025, and underscores the company’s focus on sustainable growth as a pure-play regulated energy delivery business. Equity issuance in the range of $150 million to $175 million is anticipated in 2026, and in the range of $100 million to $125 million in 2027, to support MDU Resources’ near-term capital expenditures for growth. The company expects the remaining funding to come from internally generated cash flows and debt financing and will review equity needs beyond 2027 in later periods as longer-term investment plans are updated. The company believes the 2026-2030, $3.4 billion capital investment plan positions MDU Resources to continue achieving rate base growth in the 7%-8% range annually across its regulated operations, while maintaining its long-term earnings per share growth target of 6%-8%. Actual expenditures may differ from estimates because of changes in load growth, regulatory decisions, permitting or other factors.