PADUCAH—Bloomberg News is reporting Atmos Energy Corp. needs to raise money after committing to spend as much as $3.5 billion to secure fuel during last week’s unprecedented winter freeze.
Atmos Energy Corp., the largest independent suppliers of natural gas in the U.S., supplies gas to multiple states including Kentucky. According to the company website, Atmos Energy's Mid-States Division includes more than 357,000 customers in Kentucky, Tennessee and Virginia. It provides provide natural gas to more than 179,000 Kentucky customers in Owensboro, Bowling Green, Paducah, Hopkinsville, Shelbyville, Lawrenceburg, Danville, Princeton and Campbellsville.
Atmos said in a filing late Friday that it’s “evaluating a number of financing alternatives including available cash, short-term debt, long-term debt, and equity," according to Bloomberg News.
Dallas-based Atmos said “unforeseeable and unprecedented” market pricing for gas costs in Colorado, Kansas, and Texas, led to gas purchases of approximately $2.5 billion to $3.5 billion. The bills will fall due by the end of March.