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The
energy landscape is changing and we are committed
to meeting the changing demands of our customers
through continued investment to enhance reliability,
security and safety, grid modernization, and integra-
tion of even more renewables and energy storage,
while meeting our growing demand for capacity., The following factors, in addition to those discussed within Risk Factors in our Annual Report
on Form 10-K for the year ended December 31, 2022, and elsewhere in this report and in our other flings with the Securities
and Exchange Commission, could cause actual results to difer materially from management expectations suggested in such
forward-looking statements:
•
federal, state or local administrative, regulatory, judicial, or legislative proceedings or actions, and any changes in laws,
regulations, interpretations, policies and ratemaking determinations;
•
the efects on demand for our services resulting from business and economic conditions or from technological advanc-
es, including advances in customer energy efciency, energy storage, and private generation sources, which generate
electricity at the site of consumption and are becoming more cost-competitive;
•
our ability to align overall spending, both operating and capital, with frameworks established by our regulators, Nonetheless, as
our region grows, demand for gas grows, especially during periods of peak need such as severe cold temperatures., More electric cars mean more demand for electricity, and at NorthWestern Energy, we have been working to make sure we’ll
be able to meet that demand., In addition, Montana customers fund energy efciency as a least-cost resource in supply rates and through the Universal Sys-
tem Benefts Charge (USBC).