RGCO · CIK 1069533
What RGC Resources, Inc. told the SEC could break it.
RGC Resources' disclosures describe a small, geographically concentrated gas distributor. Its business is centered on the Roanoke Valley and surrounding areas of Virginia, so local economic, regulatory, or weather shifts that curb gas demand could erode its customer base. To serve that territory, Roanoke Gas depends on interstate pipeline and storage capacity contracts (running 2027 to 2044) priced at FERC tariff rates that can rise with future filings — one contract's price increased materially in November 2025. And its rates are set by the Virginia State Corporation Commission, so if the SCC doesn't timely authorize rates that recover rising costs, profitability could suffer from the inherent lag on base rates.
3 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Geographic concentration
- Operations concentrated in the Roanoke Valley, Virginiamedium
RGC Resources' gas-distribution business is concentrated in the Roanoke Valley and surrounding areas, so local economic, political, regulatory, or weather changes that limit gas demand could erode its customer base and financial condition.
“The Company's business activities are concentrated in the Roanoke Valley and surrounding areas. Changes in the local economy, politics, regulations and weather patterns or other factors limiting demand for natural gas could negatively impact the Company's existing customer base, leading to declining usage patterns and financial conditio”
SEC filing →As of 2025
Other disclosures
- Dependence on interstate pipeline/storage capacity contracts with rising costsmedium
Roanoke Gas depends on interstate pipeline and storage capacity contracts (expiring 2027–2044) whose costs are set by FERC tariffs and may rise with rate filings; one contract price increased materially effective Nov 1, 2025.
“Roanoke Gas also has contracts for pipeline and storage capacity which extend for various periods. These capacity costs and related fees are valued at tariff rates in place as of September 30, 2025 . These rates may increase in the future based upon rate filings and rate orders granting a rate change to the pipeline or storage operator.”
SEC filing →As of 2025
Regulatory & policy
- Rate regulation by the Virginia SCC and timely rate-relief riskmedium
Roanoke Gas's rates are set by the Virginia State Corporation Commission; if the SCC does not timely authorize rates that recover rising costs (with inherent lag on non-gas base rates), profitability could be harmed.
“The Company's natural gas distribution operations are regulated by the SCC. The SCC approves the rates that the Company charges its customers.”
SEC filing →As of 2025
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings, including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its suppliers
East Tennessee Natural Gas (Enbridge)
“historically has delivered more than 65% of the Company's required gas supply, with East Tennessee and Mountain Valley delivering the remainder.”
Cited →Mountain Valley Pipeline, LLC
“historically has delivered more than 65% of the Company's required gas supply, with East Tennessee and Mountain Valley delivering the remainder.”
Cited →
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