AGA Chair: America’s Natural Gas Utilities are a Solid and Safe Investment

News Release January 23, 2019

New York, NYJames P. Torgerson, Chair of the American Gas Association (AGA) and CEO of AVANGRID, Inc., spoke at the CFA Society of New York today, where he gave a presentation highlighting why natural gas utilities will continue to be a solid and safe investment.

“The commitment of America’s natural gas utilities to safety and resilience means that we are a part of the fabric of our communities today. Our mission to constantly innovate means that we will play a role in our customers’ lives and the prosperity of this nation for many generations to come,” Torgerson said. I have worked in the energy sector for most of my career and this commitment — from the employees in the field all the way up to the CEOs — makes this industry truly unique.”

The presentation touched on critical industry issues such as enhancing the safety of the natural gas delivery system, as well as innovative proposals to expand natural gas infrastructure so that more citizens and businesses can access this abundant fuel source. It also discussed the many advanced natural gas technologies that offer pathways to achieve our shared goal of reducing emissions while maintaining affordability, reliability and the quality of life that Americans enjoy.

Torgerson cited examples of innovation by natural gas utilities. Several natural gas utilities are offering renewable natural gas produced from farms, landfills and wastewater treatment plants to customers. Combined heat and power systems that use natural gas in New York and Texas provided comfort and saved lives during catastrophic natural disasters. Natural gas usage per household nationwide has decreased even as overall demand for energy has risen, due, in part, to installation of tighter-fitting windows and doors, better insulation, utility-sponsored energy efficiency programs and the development of increasingly more efficient natural gas appliances.

Earlier today, AGA commemorated its 100-year anniversary by ringing the opening bell at the New York Stock Exchange, capping off a momentous centennial year that included hosting more than 14,000 people at the World Gas Conference in Washington, DC.

The American Gas Association, founded in 1918, represents more than 200 local energy companies that deliver clean natural gas throughout the United States. There are more than 75 million residential, commercial and industrial natural gas customers in the U.S., of which 95 percent — more than 71 million customers — receive their gas from AGA members. Today, natural gas meets more than three-tenths of the United States' energy needs.