Utilities plan to add 118 GW of new gas capacity by 2035- which would be a 20% increase in nationwide gas capacity. While they claim this is needed to meet rising demand, there are three problems with that argument.

First, load growth can be met with clean alternatives like efficiency, transmission upgrades, demand-side management, renewables, and storage. Second, over a third of utilities are planning more gas than needed for their projected growth. Third, new gas is poorly suited for near-term needs, which require faster, more flexible solutions.

To limit global warming to below 1.5°C and avoid the worst impacts of climate change, scientific and policy consensus shows that economies like the U.S. must retire all coal-fired power by 2030. Yet utilities in this study are stubbornly clinging to coal.

Coal is one of the most polluting and often the most expensive way to produce electricity. In fact, coal power was 28% more expensive in 2024 than it was in 2021. Retiring the rest of the coal fleet is one of the most effective ways to reduce emissions and lower customer's bills.

Of the 75 companies examined in this study, 65 have some form of climate pledge. Utilities often highlight these commitments as proof of their dedication to clean energy and environmental responsibility. However, the data reveals a different story: most of these pledges are greenwashing, not indicative of genuine plans for a clean energy transition. Despite 65 utilities having climate goals, only 3 received an A.

Utilities that are serious about their climate commitments must do more than set distant goals. They should adopt strong, science-aligned targets with regular interim milestones and back those goals with detailed, actionable plans to achieve them.