The S&P/ASX 100 (ASX: XTO) is in the green today, with ASX 100 stock APA Group (ASX: APA) doing some of the heavy lifting.

Shares in the energy infrastructure company closed yesterday at $7.40. In earlier trade, they surged to $7.85, up 6.1%.

After some likely profit-taking, shares are currently changing hands for $7.59 apiece, up 2.5%. That gives this ASX 100 stock a market cap of $9.8 billion.

Here's what piquing investor interest.

What's boosting the ASX 100 stock?

The ASX 100 stock is charging higher after the company reported on the Australian Energy Regulator's (AER) draft decision regarding the form of regulation that will apply to APA's South West Queensland Pipeline (SWQP).

The decision was released today after the review was initiated on 6 March.

APA welcomed the decision, which recommends that the SWQP should not be subject to full price regulation. Instead, the review found that the existing light regulation regime should remain in place.

Commenting on the decision that's helping boost the ASX 100 stock today, APA Group Adam Watson said, "APA welcomes the AER's draft decision to maintain the current form of regulation for the SWQP."

Watson added:

This decision, if confirmed, creates confidence to make the necessary investment in our East Coast Gas Grid to support energy security for our customers and consumers. It will also help facilitate our nation's ambition to deliver a reliable, affordable and lower emissions energy system.

The company noted that the AER decision was preliminary with additional consultation and submissions still to be received from APA and other stakeholders. The AER will then consider those submissions before issuing a final decision setting out the future form of regulation that will apply to the pipeline.

If the final decision confirms the draft decision, the current light regulation regime will continue to apply to the ASX 100 stock's South West Queensland Pipeline.

APA Group share price snapshot

The APA Group share price is down 5.3% over the past 12 months. However, that doesn't include the 56 cents a share in dividends the ASX 100 stock has paid over the full year.

Adding those back in, the accumulated value of APA Group shares is up 1.7% in this period.

The company reported its full-year (FY 2024) earnings results on 28 August.

Highlights included a 7.9% year-on-year boost in statutory revenue to $2.59 billion and statutory net profit of $998 million, up from $287 million in FY 2023.