Star Group, L.P. (SGU): Análise de Pestle [Jan-2025 Atualizado]

No cenário dinâmico da distribuição de energia, o Star Group, L.P. (SGU) está em uma interseção crítica dos serviços tradicionais de combustível e dos desafios emergentes do mercado. Essa análise abrangente de pestles revela a intrincada rede de fatores políticos, econômicos, sociológicos, tecnológicos, legais e ambientais que moldam o posicionamento estratégico da empresa no nordeste dos Estados Unidos. Desde a navegação em ambientes regulatórios complexos até o abordamento das preferências de consumidores em mudança de soluções de energia sustentável, a SGU enfrenta uma jornada multifacetada de adaptação e inovação em um ecossistema de energia cada vez mais complexo.

Star Group, L.P. (SGU) - Análise de pilão: fatores políticos

Ambiente regulatório no aquecimento de óleo e distribuição de propano

O Star Group, L.P. opera dentro de um cenário político complexo envolvendo várias estruturas regulatórias em nível estadual para distribuição de energia.

Estado	Complexidade regulatória	Custo de conformidade ambiental
Nova Iorque	Alto	US $ 1,2 milhão anualmente
Massachusetts	Médio	US $ 875.000 anualmente
Connecticut	Alto	US $ 1,05 milhão anualmente

Impacto da política energética

Os principais desafios regulatórios políticos:

• Requisitos federais de conformidade da Lei do Ar Limpo
• Regulamentos de emissão de gases de estufa em nível estadual
• Mandatos de transição de energia renovável

Cenário de incentivo tributário

Incentivos fiscais atuais em nível estadual para transições de eficiência energética:

Estado	Valor de crédito tributário	Incentivo de transição renovável
Nova Jersey	US $ 0,15 por galão	Até US $ 5.000
Pensilvânia	US $ 0,12 por galão	Até US $ 4.500

Conformidade com a regulamentação ambiental

Métricas de conformidade regulatória:

• Padrões de combustível da EPA Tier 3 Custo de conformidade: US $ 2,3 milhões em 2023
• Manutenção da licença ambiental do estado: US $ 750.000 anualmente
• Despesas de monitoramento e relatório de emissões: US $ 450.000 por ano

Star Group, L.P. (SGU) - Análise de pilão: Fatores econômicos

Sensibilidade aos preços de commodities energéticas

O Star Group, L.P. relatou receita total de US $ 1,78 bilhão para o ano fiscal de 2023. Os preços das commodities de propano tiveram uma média de US $ 1,85 por galão em 2023, representando uma flutuação de 12,7% dos preços do ano anterior.

Ano fiscal	Receita total	Preço do AVG de propano	Volatilidade dos preços
2023	US $ 1,78 bilhão	US $ 1,85/galão	12.7%

Nordeste de dependências econômicas dos Estados Unidos

Indicadores econômicos regionais:

• PIB de Massachusetts: US $ 612,8 bilhões
• PIB Connecticut: US $ 301,4 bilhões
• PIB de Nova York: US $ 2,05 trilhões
• PIB PENNSYLVANIA: US $ 838,4 bilhões

Variações de demanda sazonal

Temporada	Aquecimento da demanda de combustível	Impacto de receita
Inverno	68% do volume anual	US $ 1,21 bilhão
Verão	32% do volume anual	US $ 0,57 bilhão

Risco de desaceleração econômica

Elasticidade do consumo de energia residencial: -0,3, indicando resiliência moderada da demanda durante as contrações econômicas.

Indicador econômico	2023 valor	Impacto potencial
Gastos com energia residencial	US $ 2.123/família	± 6,5% Potencial de variação

Star Group, L.P. (SGU) - Análise de pilão: Fatores sociais

Serve clientes predominantemente residenciais e comerciais em áreas rurais e suburbanas

O Star Group, L.P. atende aproximadamente 379.000 clientes residenciais e comerciais em todo o nordeste dos Estados Unidos, com 83% localizados nas regiões rurais e suburbanas a partir de 2023.

Segmento de clientes	Número de clientes	Percentagem
Clientes residenciais	312,370	82.4%
Clientes comerciais	66,630	17.6%

Base de clientes envelhecida com potencial mudança geracional nas preferências energéticas

A base de clientes da idade média da Star Group é de 54,7 anos, com 62% dos clientes com mais de 45 anos.

Faixa etária	Porcentagem de clientes
18-34 anos	12.3%
35-44 anos	25.7%
45-64 anos	42.6%
65 anos ou mais	19.4%

Crescente conscientização do consumidor sobre pegada de carbono e alternativas de energia renovável

O interesse do consumidor em soluções de energia sustentável aumentou 37% no nordeste dos Estados Unidos entre 2020 e 2023.

Preferência energética	Porcentagem de consumidores	Crescimento ano a ano
Interesse energético renovável	48.6%	+37%
Fontes de energia tradicionais	51.4%	-7%

Tendências demográficas mostrando maior interesse em soluções de energia sustentável

Os dados demográficos mais jovens (18-34 anos) mostram 62% de participação maior em energia renovável em comparação com as faixas etárias mais velhas.

Faixa etária	Interesse energético renovável
18-34 anos	68.5%
35-44 anos	52.3%
45-64 anos	39.7%
65 anos ou mais	22.6%

Star Group, L.P. (SGU) - Análise de pilão: fatores tecnológicos

Investir em plataformas digitais para atendimento ao cliente e gerenciamento de cobrança

O Star Group, L.P. investiu US $ 2,3 milhões em iniciativas de transformação digital em 2023. A empresa implementou um sistema de gerenciamento de relacionamento com clientes baseado em nuvem (CRM) com uma taxa de tempo de atividade de 98,5%. A adoção da plataforma de cobrança digital aumentou as interações de autoatendimento do cliente em 42% em comparação com o ano anterior.

Categoria de investimento digital	Valor do investimento ($)	Melhoria de eficiência (%)
Sistema de CRM	1,100,000	37.6
Plataforma de cobrança online	750,000	42.3
Aplicativo móvel	450,000	28.9

Explorando as tecnologias avançadas de logística e otimização de rota

A empresa implantou sistemas de rastreamento de GPS em 92% de sua frota de entrega. O software de otimização de rota reduziu o consumo de combustível em 16,7% e diminuiu os tempos de entrega em uma média de 22 minutos por rota.

Tecnologia de logística	Cobertura da frota (%)	Melhoria de eficiência
Rastreamento GPS	92	Redução de combustível: 16,7%
Software de otimização de rota	87	Redução do tempo de entrega: 22 min

Integração potencial de sistemas de medição inteligente e monitoramento remoto

Investimento de tecnologia de medição inteligente: US $ 1,75 milhão em 2023. A cobertura do sistema de monitoramento remoto expandiu-se para 64% das instalações dos clientes, permitindo o rastreamento de consumo de energia em tempo real e recursos de manutenção preditiva.

Adaptação gradual da gestão de frotas e tecnologias de entrega de combustível

O Star Group, L.P. alocou US $ 3,2 milhões para a eletrificação de frota e as tecnologias avançadas de gerenciamento de combustível. A composição atual da frota inclui:

• Veículos de combustível tradicionais: 76%
• Veículos híbridos: 18%
• Veículos elétricos: 6%

Investimento em tecnologia da frota	Valor ($)	Foco em tecnologia
Eletrificação de frota	1,800,000	Infraestrutura de EV
Sistemas de gerenciamento de combustível	1,400,000	Rastreamento de eficiência

Star Group, L.P. (SGU) - Análise de pilão: Fatores legais

Conformidade com os regulamentos ambientais que regem a distribuição de combustível

Métricas de conformidade da Agência de Proteção Ambiental (EPA):

Categoria de regulamentação	Taxa de conformidade	Frequência de inspeção anual
Regulamentos da Lei do Ar Limpo	98.7%	4 vezes por ano
Lei de Conservação e Recuperação de Recursos (RCRA)	97.5%	3 vezes por ano
Regulamentos de tanques de armazenamento subterrâneo	99.2%	2 vezes por ano

Riscos potenciais de responsabilidade associados ao transporte e armazenamento de combustível

Detalhes da cobertura do seguro de responsabilidade civil:

Tipo de seguro	Quantidade de cobertura	Premium anual
Responsabilidade geral	US $ 50 milhões	US $ 1,2 milhão
Responsabilidade ambiental	US $ 35 milhões	$850,000
Risco de transporte	US $ 25 milhões	$600,000

Leis de proteção ao consumidor em nível estadual em distribuição de energia

Redução de conformidade regulatória:

• Conformidade ativa em 17 estados com regulamentos de distribuição de energia
• Acordos legais totais em 2023: US $ 2,3 milhões
• Taxa de resolução de reclamação do consumidor: 94,6%

Navegando regulamentos de segurança e emprego no local de trabalho

Métricas de segurança ocupacional:

Métrica de segurança	2023 desempenho	Taxa de conformidade da OSHA
Taxa de incidentes no local de trabalho	2,1 por 100 funcionários	99.5%
Horário de treinamento de segurança	48 horas por funcionário anualmente	100%
Reivindicações de compensação dos trabalhadores	37 reivindicações	N / D

Star Group, L.P. (SGU) - Análise de pilão: fatores ambientais

Emissões diretas de carbono da distribuição e transporte de combustível

O Star Group, L.P. relatou emissões totais de carbono de 237.456 toneladas métricas equivalentes em 2023. A distribuição e o transporte de combustível representaram 68% dessas emissões, totalizando 161.470 toneladas métricas.

Fonte de emissão	Toneladas métricas CO2E	Percentagem
Distribuição de combustível	98,745	41.6%
Transporte	62,725	26.4%
Emissões totais	237,456	100%

Aumento da pressão para desenvolver modelos de distribuição de energia mais sustentáveis

Investimento de sustentabilidade: US $ 12,3 milhões alocados para o desenvolvimento de infraestrutura de energia sustentável em 2024.

• Integração de energia renovável: 15% da rede de distribuição direcionada para soluções de energia verde
• Expansão da infraestrutura de carregamento de veículos elétricos: 47 novas estações de carregamento planejadas
• Atualizações de eficiência energética: redução projetada de 22% no consumo de energia operacional

Investimentos em potencial em tecnologias de combustível mais limpa e programas de compensação de carbono

Categoria de investimento	2024 Orçamento	Redução esperada de carbono
Desenvolvimento de Biodiesel	US $ 5,7 milhões	32.000 toneladas métricas CO2
Programas de compensação de carbono	US $ 3,2 milhões	45.000 toneladas métricas CO2
Pesquisa em tecnologia de hidrogênio	US $ 2,9 milhões	18.500 toneladas métricas CO2

Requisitos regulatórios para relatórios ambientais e gerenciamento de emissões

Métricas de conformidade para 2024 Relatórios Ambientais:

• EPA TIER 3 Relatórios de conformidade: 100% concluído
• Escopo de protocolo de gases de efeito estufa 1 & 2 Emissões Verificação: Concluído por Auditor Independente
• Relatório anual de divulgação ambiental Submissão: 15 de março de 2024

Padrão regulatório	Status de conformidade	Frequência de relatório
Lei do Ar Limpo da EPA	Totalmente compatível	Trimestral
Regulamentos Ambientais do Estado	Totalmente compatível	Anualmente
Projeto de divulgação de carbono	Enviado	Anualmente

Star Group, L.P. (SGU) - PESTLE Analysis: Social factors

Sociological Shifts in Home Energy Consumption

You're seeing the ground shift under your feet, and it's not just the weather; consumer preferences are moving away from traditional fossil fuels for home heating. Honestly, this is a structural change that demands attention. In 2024, a significant 42% of US households reported using electricity as their main space heating fuel, closing in on natural gas, which held 47% of the market.

This trend is fueled by a desire for cleaner, smarter homes. Homeowners are increasingly looking for systems that offer both efficiency and environmental benefits, making solutions like heat pumps very attractive. If onboarding takes 14+ days, churn risk rises because customers are actively researching alternatives right now.

The demand for modern, efficient systems is clear in market signals. Here's what the push for efficiency looks like:

• Heat pump installations are reportedly rising 25% Year-over-Year due to incentives.
• 61% of new home buyers rank energy efficiency as a top decision factor.
• Smart HVAC systems offer remote control and predictive maintenance, appealing to tech-savvy consumers.
• High-efficiency furnaces and heat pumps are achieving 90%+ AFUE ratings.

Customer Base Dynamics and Geographic Concentration

For Star Group, L.P. (SGU), the core business faces a dual challenge: persistent net customer attrition, which management noted was 'roughly flat year-over-year' in Q3 Fiscal 2025, and the inherent volatility tied to weather. In the first nine months of Fiscal 2025, volume sold was up 11.8% to 262.6 million gallons, but this was largely due to colder temperatures and acquisitions offsetting the customer losses. To be fair, acquisitions are helping to diversify the customer base, but the base business attrition remains a critical area of focus.

The good news is that your core market-the colder, off-grid areas of the Northeast-still relies heavily on the products you distribute. While electricity is growing nationally, heating oil and propane remain concentrated where the winters are harshest. Here's a quick look at where the primary heating fuels stand nationally, which helps frame SGU's regional strength:

Fuel Type	Approx. % of US Households (Main Heating Fuel)	Regional Concentration
Natural Gas	47% (in 2024)	Most prevalent nationally
Electricity	42% (in 2024)	Predominant in warmer South
Heating Oil	Approx. 4%	Over 80% in the Northeast
Propane	Approx. 5%	Upper Midwest and Northeast

What this estimate hides is that for SGU, the Northeast concentration of heating oil users (where 79% of all US fuel oil households reside) is both a strength and a risk, as these customers are prime targets for electrification projects. Still, the demand for propane and oil in these colder, less-electrified zones provides a necessary ballast against milder weather swings.

Finance: draft 13-week cash view by Friday

Star Group, L.P. (SGU) - PESTLE Analysis: Technological factors

The technology landscape is forcing Star Group, L.P. to move faster on digitization, especially in logistics and customer interface, or risk falling behind competitors who are already realizing double-digit efficiency gains.

Widespread adoption of real-time tank monitors is critical for optimizing delivery routes and improving customer service.

For a company like Star Group, L.P., which reported a Q2 fiscal 2025 revenue of $743.0 million, moving away from scheduled or reactive deliveries to true demand-based fulfillment is key to margin protection. Real-time tank monitoring (or Automatic Tank Gauging, ATG) gives you the granular data needed to stop sending trucks to half-full tanks, which is pure waste. Honestly, if you aren't aggressively rolling these out across your residential base, you're leaving money on the table. This tech lets you bundle deliveries efficiently, which is defintely crucial when fuel costs are volatile.

Cold-climate heat pump technology is expanding, now viable down to -15 degrees Fahrenheit, directly challenging fossil fuel heating.

The threat from electrification isn't just regulatory; it's technological now. Modern cold-climate air source heat pumps (ccASHPs) are now engineered to maintain efficiency down to temperatures as low as -25°C (which is about -13°F). This directly erodes the reliability argument for home heating oil and propane in many of your core Northeast and Mid-Atlantic markets. In the U.S., the market for these systems is projected to grow at a compound annual growth rate (CAGR) of 21% from 2024 to 2031, driven by these performance gains. You need a clear strategy for servicing these units, or you risk losing the entire heating relationship to an HVAC specialist.

Fuel delivery companies are evaluating Artificial Intelligence (AI) for tasks like route generation and automating customer outreach.

AI isn't just for the big players like UPS, which reportedly saved $320 million annually by optimizing routes. The industry standard for AI route optimization software is growing rapidly, suggesting widespread adoption is imminent. For you, AI means moving beyond simple GPS mapping to dynamic scheduling that accounts for real-time traffic and weather, potentially cutting fuel consumption by 10% to 28% on optimized routes. Automating customer outreach via AI-driven chatbots or personalized messaging can also free up your customer service reps to handle complex service calls, not just simple delivery confirmations.

Predictive analytics are being used to optimize supply chains, reduce operational costs, and prevent peak-season shortages.

Predictive analytics uses historical delivery patterns, weather forecasts, and customer consumption data to forecast demand spikes. This is how you prevent running out of propane or oil during a sudden cold snap. By using this data, you can optimize where you store inventory and when you schedule bulk product movements, reducing expensive last-minute logistics. This directly impacts your working capital by reducing the need to hold excess safety stock, which is expensive to store and insure. Here's the quick math: better inventory placement based on predictive models can cut logistics handling costs by 40% in some estimates. What this estimate hides is the improved customer retention from never having an emergency stock-out.

Here is a quick look at where the technology focus areas stand right now:

Technology Focus	Industry Benchmark/Metric (2025)	Impact on Star Group, L.P.
Real-Time Tank Monitoring	Critical for optimizing delivery density.	Reduces non-revenue miles; improves customer service reliability.
Cold-Climate Heat Pumps	Viable performance down to -25°C (-13°F).	Directly challenges long-term heating fuel demand; creates HVAC service opportunity.
AI Route Optimization	Potential fuel savings up to 28% on optimized routes.	Lowers operating expense (OpEx) and driver overtime costs.
Predictive Analytics	Global AI in logistics market size projected at $26.35 billion in 2025.	Optimizes inventory placement to prevent costly peak-season shortages.

You need to treat technology not as a cost center, but as the primary lever for margin defense in this environment. Look at the ROI on a full tank monitor rollout versus the cost of an unnecessary truck dispatch.

• Prioritize the ROI of real-time tank monitoring deployment.
• Develop a service strategy for heat pump installations and maintenance.
• Pilot AI-driven routing on your highest-volume delivery zones first.
• Integrate weather data feeds into your supply chain planning software.

Finance: draft 13-week cash view by Friday.

Star Group, L.P. (SGU) - PESTLE Analysis: Legal factors

You're navigating a regulatory landscape that's tightening around safety and pushing hard toward electrification, which directly impacts Star Group, L.P.'s core business of distributing propane and heating oil. The legal environment in 2025 is characterized by stricter physical installation rules and state-level policies designed to penalize fossil fuel use, even as technology offers some compliance pathways.

New NFPA Safety Codes and Installation Requirements

The National Fire Protection Association's (NFPA) 58 code, which governs the storage and handling of liquefied petroleum gas, has seen revisions that mandate stricter physical safety parameters for new and existing installations. For Star Group, L.P.'s service technicians, this means mandatory adherence to new setback distances, which can complicate service calls and new customer installations. These codes are the industry benchmark for safe LP-Gas handling, mitigating risks of leaks and explosions.

Specifically, the 2025 updates to NFPA 58 require that residential propane tanks must be located not less than 10 feet away from building entrance points and crawlspaces. Furthermore, tanks of 500 gallons or less generally need to be positioned at least 10 feet away from the main building structure. This focus on physical separation and ignition source proximity drives up the time and complexity-and therefore the cost-of every new residential hookup or tank replacement Star Group, L.P. performs.

State-Level Fuel Fees and Decarbonization Mandates

Several states are actively legislating to meet aggressive carbon reduction targets, and this is translating into direct financial burdens for fossil fuel distributors like Star Group, L.P. The Vermont Affordable Heat Act is a prime example, creating a Clean Heat Standard that requires importers of fossil fuels to offset sales with clean heat credits. While the Vermont Legislature was expected to vote on authorizing the program in January 2025, the potential financial impact is significant for any obligated party operating there.

If implemented, the fee would be passed directly to customers, but Star Group, L.P. would be the entity responsible for collecting and remitting it. Modeling suggests the cost impact on propane could range from an extra $0.94 to $2.12 per gallon under various scenarios, though the Public Utility Commission's initial estimates were lower. This regulatory pressure is not isolated; Maryland is noted as seeking to copy similar zero-emission regulations seen in California, where Star Group, L.P. sold 535 million gallons of propane as of the 2023 industry report.

Here's a quick look at the regulatory cross-currents affecting your operational planning:

Regulatory Factor	Specific Requirement/Impact	Financial Implication for SGU/Customers
NFPA 58/54 (2025)	Residential tank setback of minimum 10 feet from entrances/crawlspaces.	Increased installation time; potential need for site remediation/repositioning.
Vermont Clean Heat Standard (Potential 2026)	Fee on fossil fuel importers (propane, oil) to fund clean heat credits.	Modeled cost impact of $0.94 - $2.12 per gallon of propane.
Federal Energy Incentives (2025)	Section 25C credit for heat pumps available through 2032.	Opportunity for customers to switch, potentially reducing long-term propane volume.
California CARB/Building Code (2025)	Push toward zero-emission/all-electric new construction.	Risk of market contraction in key states like California, the largest propane market.

Compliance Costs and Weather Resilience

The increased regulatory focus on safety and weather resilience for storage sites is a tangible cost driver. Star Group, L.P.'s management explicitly notes in their filings that they assess the viability of capital expenditure projects against factors like compliance with environmental, health, and safety regulations. While specific 2025 capital budget allocations for safety upgrades aren't public, any mandated upgrades to storage tanks or delivery fleet rollover protection-as required by 2025 standards-will hit the books as non-discretionary spending. This is a defintely necessary expense, but it pressures free cash flow that might otherwise go to distributions or acquisitions.

Hybrid Systems and Compliance Simplification

On the flip side, regulatory bodies are starting to acknowledge the middle ground between pure fossil fuel and pure electric systems. In 2025, hybrid heating systems that combine propane with solar or electric power are gaining recognition under new clean energy classifications. This recognition is important because it allows customers to claim incentives while retaining propane as a reliable backup, which can slow customer attrition. For instance, federal incentives like the 25C credit offer up to $3,200 per year, including $2,000 for heat pumps, which can be part of a dual-fuel setup. This trend toward recognizing dual-fuel setups, especially in colder climates, offers a slight regulatory buffer against outright fuel bans.

• Review all state-level clean heat legislation pending final vote in early 2026.
• Update technician training modules on new NFPA 58 setback rules immediately.
• Quantify the potential lost volume from states mandating all-electric new builds by 2029.

Finance: draft 13-week cash view by Friday.

Star Group, L.P. (SGU) - PESTLE Analysis: Environmental factors

You're looking at a sector under constant environmental scrutiny, and for Star Group, L.P., that means the pressure to decarbonize the broader US energy system is real. This focus on electrification is definitely pushing customers away from traditional fossil fuels used for heating. Still, this transition creates clear pathways for growth if you pivot toward cleaner alternatives.

Broader US Energy System Pressures

The macro trend is clear: the US energy system is moving toward electrification and decarbonization, which puts direct pressure on distributors of fossil fuels like home heating oil. The Energy Information Administration (EIA) projects that while US power consumption hits record highs in 2025, this growth is partly fueled by homes and businesses using more electricity and less fossil fuels for heat and transportation. For Star Group, L.P., whose fiscal 2025 first quarter saw 63% of total sales from home heating oil and propane, this macro shift is a fundamental headwind that needs a strategic response.

Biofuels: The Near-Term Opportunity

The immediate opportunity lies in aggressively marketing and distributing lower-carbon fuels. For renewable heating oil, the market expectation is that consumption will average 40,000 barrels per day (b/d) in 2025, effectively doubling the prior year's usage. This signals rapid adoption potential. [cite: Required Talking Point] Propane, already a cleaner-burning alternative to heating oil, is getting even better with renewable propane (rPG) advancements. The market for rPG was valued at $13.59 billion in 2025, and while current US production is over 4.5 million gallons annually, the World LP Gas Association projects up to 100 million gallons could hit the marketplace in the next few years. Camelina-based rPG, for example, shows potential to reduce greenhouse gas emissions by up to 60% compared to petroleum fuel.

Here's a quick look at the growth story for rPG:

• Market Value (2025): $13.59 billion
• Current Annual Production: Over 4.5 million gallons
• Projected Capacity (Next Decade): Up to 300 million gallons
• GHG Reduction Potential (Camelina): Up to 60%

If onboarding your fleet and storage for these blends takes 14+ days longer than planned, you risk losing early-adopter commercial customers.

Tightening Environmental Compliance and Infrastructure Risk

Environmental compliance is not static; it's getting tighter, especially concerning the physical assets Star Group, L.P. uses to store and distribute fuel. The US Environmental Protection Agency (EPA) rules for Underground Storage Tanks (USTs) mandate specific protections for metal components in contact with the ground. For a company like Star Group, L.P., which relies on these assets for its core business, this means ongoing capital expenditure and operational checks. You must ensure compliance with rules requiring advanced corrosion protection and periodic integrity testing, which can be a significant, though necessary, cost center.

Here is a breakdown of key UST compliance areas:

Requirement Area	Compliance Standard/Action	Relevance to Star Group, L.P.
Corrosion Protection	Cathodic protection or noncorrodible material (e.g., fiberglass) for metal components in contact with soil.	Mandatory for existing steel tanks and piping; requires ongoing monitoring.
Biofuel Compatibility	UST systems must be compatible with stored substances, including certain biodiesel blends (e.g., B50 requires demonstration of compatibility).	Crucial for integrating renewable heating oil and propane blends into existing infrastructure.
Leak Detection	Must meet performance standards (e.g., detecting 0.2 gallons per hour leak rate).	Requires maintaining and potentially upgrading leak detection systems across the distribution network.

What this estimate hides is the specific, unquantified cost Star Group, L.P. faces for potential national GHG emissions reduction legislation, which management noted they cannot yet estimate. Still, ignoring the existing UST requirements is not an option.

Finance: draft 13-week cash view by Friday