Electric was NorthWestern Energy’s largest product and service line in fiscal 2025, bringing in $1.27B of $1.61B (79%).
| Product and Service | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Electric | $1.11B | $1.07B | $1.20B | $1.27B | |
| Gas Domestic Regulated | $371.27M | $353.31M | $313.20M | $340.60M | |
| Total | $1.48B | $1.42B | $1.51B | $1.61B |
NorthWestern Energy brought in $1.61B from its two product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 6.4% from $1.51B in fiscal 2024. Electric was the largest at $1.27B (78.9%), ahead of Gas Domestic Regulated at $340.60M (21.1%).
Compared with fiscal 2024, Gas Domestic Regulated grew 8.8% to $340.60M and Electric grew 5.8% to $1.27B. From fiscal 2022 to 2025, combined revenue from these lines grew from $1.48B to $1.61B, a compound annual growth rate of 2.9%. Electric's share of the total rose from 74.9% to 78.9%.
Electric was NorthWestern Energy’s largest segment in fiscal 2025, bringing in $1.27B of $1.61B (79%).
| Segment | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Electric | $1.11B | $1.07B | $1.20B | $1.27B | |
| Natural Gas | $371.20M | $353.31M | $313.20M | $340.60M | |
| Total | $1.48B | $1.42B | $1.51B | $1.61B |
NorthWestern Energy brought in $1.61B from its two segments in fiscal 2025, the year ended December 31, 2025. That was up 6.4% from $1.51B in fiscal 2024. Electric was the largest at $1.27B (78.9%), ahead of Natural Gas at $340.60M (21.1%).
Compared with fiscal 2024, Natural Gas grew 8.8% to $340.60M and Electric grew 5.8% to $1.27B. From fiscal 2022 to 2025, combined revenue from these segments grew from $1.48B to $1.61B, a compound annual growth rate of 2.9%. Electric's share of the total rose from 74.9% to 78.9%.
NorthWestern Energy (NWE) reports its revenue by product and service and by segment. In fiscal 2025, Electric was its largest product and service line, bringing in $1.27B (78.9% of the total), followed by Gas Domestic Regulated at $340.60M (21.1%).
Electric was NorthWestern Energy's largest product and service line in fiscal 2025, bringing in $1.27B, or 78.9% of the $1.61B total across its two product and service lines.
Electric was NorthWestern Energy's largest segment in fiscal 2025, bringing in $1.27B, or 78.9% of the $1.61B total across its two segments.
Gas Domestic Regulated grew faster than Electric in fiscal 2025, up 8.8% from $313.20M to $340.60M. Electric grew 5.8% to $1.27B.
Every figure comes from NorthWestern Energy's annual financial filings, as reported. Each line keeps the name NorthWestern Energy gives it, and years follow its fiscal calendar.
NorthWestern Energy's revenue by product and service goes back to fiscal 2021, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.