UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number 001-31303 Black Hills Corporation Incorporated in South Dakota IRS Identification Number 46-0458824 7001 Mount Rushmore R ...

公司业务 - 截至2022年12月31日，公司电力公用事业部门的零售客户总数为220,431户，较2021年增加2,162户[78] - 公司拥有并经营多个非受监管的发电和采矿资产，主要支持电力公用事业部门，其中包括风力、天然气和燃油发电设施[79] - 公司的电力供应来源中，煤炭占比为35.1%，天然气和柴油占比为18.8%，风力占比为11.4%[82] - 公司拥有一座煤矿，位于怀俄明州的Powder River盆地，2022年产量约为370万吨[84] - 公司估计截至2022年12月31日可开采的煤炭储量约为1.74亿吨，可支持当前产量约47年[86] - 公司拥有电力传输和配电系统，包括高压线路和低压线路，以及与其他公司共同运营的电力传输系统[87] - 公司的电力公用事业部门拥有约1,892英里的传输线路和7,132英里的配电线路[88] - 公司的电力公用事业部门的加权平均燃料成本为每兆瓦时32.82美元，购买电力的加权平均成本为每兆瓦时61.56美元[83] - 公司的电力公用事业部门是季节性业务，受季节性需求变化和天气影响较大，夏季制冷需求较大，冬季供暖需求较大[90] - 公司在电力和煤炭行业面临竞争，但目前竞争对公司的公用事业部门和非受监管发电业务影响不大[91] 天然气业务 - 我们公司拥有的地下储气设施的工作能力总计为54,512,450 Mcf，最大日提取能力为262,000 Mcfd[98] - 我们公司的天然气公用事业是季节性业务，需求受季节性供暖和工业负荷需求的影响，尤其是冬季需求更大[98] - 我们公司在天然气零售分销领域面临有限的竞争，但各州的重组和竞争性倡议可能会增加竞争，电气化倡议可能对天然气需求产生负面影响[99] 监管与合规 - 我们公司的公用事业受到联邦、州和其他组织的监管，包括州公用事业委员会、FERC、NERC、EPA、TSA和PHMSA[101] - 我们公司的公用事业受到公用事业委员会和FERC的监管，监管决策受到多种因素的影响，包括服务成本、资本支出、回报率等[102] - 我们公司的公用事业有成本回收机制，允许我们将天然气、燃料和购买电力的成本合理地转嫁给客户[103] - 我们公司的电力公用事业在各州和FERC的监管下，具有不同的授权回报率和资本结构，以及各种成本回收机制[104] - 我们公司的电力和天然气公用事业都有成本回收机制，允许我们在不进行一般费率审查的情况下向客户收取或退还成本差额[112] - 我们公司的天然气公用事业在各州的监管下，具有不同的授权回报率和资本结构，以及各种成本回收机制[111] 环保与可持续发展 - 我们的清洁能源目标是通过谨慎和成熟的解决方案来减少温室气体排放，同时最大限度地减少对客户的成本影响，并确保客户的安全[122] - 美国最高法院于2022年6月30日发布了有利于西弗吉尼亚州等方的意见，明确了环保局在没有进一步指示的情况下如何规范温室气体排放，该决定可能影响环保局制定任何新规定的结果[124] 员工安全与发展 - 我们致力于吸引、激励、留住和鼓励高素质和多样化的员工团队，以支持运营卓越，吸引合格人才是我们为安全高效地为超过130万客户提供服务的能力至关重要的[127] - 我们的员工安全是我们公司价值观的一部分，是我们所做一切工作的首要任务，自2009年以来，我们已将工作场所伤害减少了75%以上，并持续看到我们的安全实践和表现长期稳定改善[133] 财务管理 - 公司在2022年12月31日的固定利率债务占88%，限制了对变动利率波动的敞口[358] - 公司采取了利率互换协议来降低与浮动利率债务和预期债务再融资相关的利率波动风险[357] - 公司的信用政策旨在通过与高信用质量实体开展业务、设定与对手方财务实力相符的期限和信用额度、获得主协议和通过父公司担保、现金抵押要求、信用证和其他安全协议来减轻信用风险[360]

Black Hills Corporation (NYSE:BKH) Q4 2022 Earnings Conference Call February 8, 2023 11:00 AM ET Company Participants Jerome Nichols - Director, IR Linn Evans - President and CEO Rich Kinzley - SVP and CFO Kimberly Nooney - VP and Treasurer Conference Call Participants Julien Dumoulin-Smith - Bank of America Chris Ellinghaus - Siebert Williams Shank and Company Andrew Weisel - Scotiabank Brandon Lee - Mizuho Operator Good day and thank you for standing by. Welcome to the Fourth Quarter 2022 Black Hills Corp ...

POWERING A Investor Meetings December 2022 Forward-Looking Statements COMPANY INFORMATION This presentation includes "forward-looking statements" as defined by the Securities and Exchange Commission. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this presentation that address activities, events or developments that we expect, believ ...

POWERING A BETTER FUTURE 2022 Third Quarter Review Nov. 3, 2022 Forward-Looking Statements COMPANY INFORMATION This presentation includes "forward-looking statements" as defined by the Securities and Exchange Commission. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this presentation that address activities, events or developments t ...

Black Hills Corporation (NYSE:BKH) Q3 2022 Earnings Conference Call November 3, 2022 11:00 AM ET Company Participants Jerome Nichols - Director, IR Linn Evans - President & CEO Rich Kinzley - SVP & CFO Kimberly Nooney - VP, Corporate Controller & Treasurer Conference Call Participants Paul Zimbardo - Bank of America Brandon Lee - Mizuho Brian Russo - Sidoti Operator Good day, ladies and gentlemen, and welcome to the Black Hills Corporation's Third Quarter 2022 Earnings Conference Call. My name is Liz, and I ...

Black Hills Corporation (NYSE:BKH) Q2 2022 Earnings Conference Call August 4, 2022 11:00 AM ET Company Participants Jerome Nichols - Director of Investor Relations Linn Evans - President and Chief Executive Officer Rich Kinzley - Senior Vice President and Chief Financial Officer Conference Call Participants Paul Zimbardo - Bank of America Andrew Weisel - Scotiabank Brian Russo - Sidoti & Company Brandon Lee - Mizuho Securities Operator Good day, ladies and gentlemen, and welcome to the Black Hills Corporati ...

POWERING BETTER FUTURE 2022 Second Quarter Review Aug. 4, 2022 Forward-looking Statements COMPANY INFORMATION This presentation includes "forward-looking statements" as defined by the Securities and Exchange Commission. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this presentation that address activities, events or developments th ...

Black Hills Corporation (NYSE:BKH) Q1 2022 Earnings Conference Call May 5, 2022 11:00 AM ET Company Participants Jerome Nichols - Director of Investor Relations Linn Evans - President & Chief Executive Officer Rich Kinzley - Senior Vice President & Chief Financial Officer Conference Call Participants Julian Smith - Bank of America Brandon Lee - Mizuho Andrew Weisel - Scotiabank Operator Good day, ladies and gentlemen, and welcome to the Black Hills Corporation First Quarter 2022 Earnings Conference Call. My ...

2021 Fourth Quarter and Full Year Review Feb. 10, 2022 Ready Forward-Looking Statements COMPANY INFORMATION This presentation includes "forward-looking statements" as defined by the Securities and Exchange Commission. We make these forwardlooking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this presentation that address activities, events or developments that ...