RGC Resources, Inc. (NASDAQ:RGCO) Q4 2022 Earnings Conference Call December 5, 2022 9:00 AM ET
Company Participants
Paul Nester - President and CEO
Jason Field - CFO
Tommy Oliver - VP, Regulatory Affairs and Strategy
Kelsie Davenport - Director of Finance
Conference Call Participants
Paul Nester
Good morning, everyone. I'm Paul Nester, President and CEO of RGC Resources Inc. Thank you for joining us as we discuss RGC Resources 2022 Fourth Quarter Results. We do have a few administrative items to cover. [Operator Instructions] The link to today's presentation is available on the Investor and Financial Information page of our website at www.rgcresources.com.
Jason Field, our CFO; and Tommy Oliver, our Vice President of Regulatory Affairs and Strategy; as well as Kelsie Davenport, our Director of Finance are with me on the call this morning.
All right. Moving over to Slide 1. We do have forecast and projections in today's presentation and our forward looking statement disclaimer can be found on the first slide.
Moving on to Slide 2, the agenda. We'll start with a review and update of some of our operational results and financial highlights for fiscal 2022, as well as the fourth quarter. And Jason will then cover especially delivered volumes and financial results. Tommy will give us an update the RNG project and our base rate case that we just filed last week. And I will conclude with the discussion of the outlook for fiscal 2023.
Moving to Slide 3. We just had another outstanding year in our Roanoke Gas subsidiary operationally. Our customer additions are up 11% compared to last year and we added 6.9 new miles of main in the fiscal year. You noticed our customer count may appear to be lower than last year and I believe we've talked about this in previous calls, but that is due to the service disconnect moratorium, which started in the spring of 2020 with the pandemic and lasted until the late summer of 2021.We did not reinstitute our processes of turning off delinquent customers until March of this year.
So as we went through the summer, we were able to reestablish those disconnect processes and now that we're into colder weather here in early December, a lot of those customers as we've seen in the past have started to pay their bills and seek service reconnection. We certainly expect our first quarter 2023 customer account number to reflect that change.