Natural gas is a long-term player and not a transitional fuel for the eight states in which Rapid City, SD-based Black Hills Corp. operates, CEO Linn Evans said Tuesday.

During a 3Q2020 earnings call, Evans said he was not expecting any local lockdowns in the utility service areas, with the worst of the Covid-19 impacts now behind it.

“Our supply chains and capital programs are operating with little impact,” Evans said. 

With a 32% year/year increase in earnings, the utility holding company also increased its five-year capital expenditure (capex) plan by $239 million. Through 2024, Black Hills expects capex to be $2.9 billion, with around $500 million per year in 2025 and beyond.

“Most of the added capital investment is related to additional programmatic investment...