Southwest Gas Holdings, through its subsidiary Southwest Gas Corporation, is a regulated natural gas utility that purchases, distributes, and transports natural gas to millions of residential, commercial, and industrial customers across Arizona, Nevada, and California. The company generates revenue primarily from delivering natural gas for heating, cooking, and business use under rate schedules established by state regulatory commissions, with supplemental revenue from storage services, transportation, and renewable energy initiatives. Its earnings are stabilized through decoupled rate mechanisms that allow it to recover authorized costs and reasonable returns on its growing rate base regardless of consumption volumes or seasonal weather variations.