The Board of Directors of Xcel Energy has raised the quarterly dividend on the company’s common stock from 43 cents per share to 45.75 cents per share, which is equivalent to an annual rate of $1.83 per share. The dividends are payable April 20, 2021, to shareholders of record on March 15, 2021.

“We are increasing our dividend 6.4 percent, which is consistent with our objective of growing the dividend 5-7 percent annually. The dividend increase is evidence of our confidence in our long-term business plan and our commitment to provide shareholders an attractive total return,” according to Ben Fowke, Chairman and CEO of Xcel Energy.

Alliant Energy has announced it will shutter its last remaining coal plant in Wisconsin by the end of 2024. The closure moves Alliant closer toward the company’s goal of eliminating coal from its power mix by 2040 and cutting carbon emissions by fifty percent by 2030 from 2005 levels. The move is expected to save ratepayers more than $250 million that would be spent to keep the plant running, according to David de Leon, President of Alliant’s utility in Wisconsin.

Alliant released a $900 million plan in May to add 675 megawatts of solar across six counties as part of a goal to add 1,000 megawatts of solar power by the end of 2023 which would power about 260,000 homes. Wisconsin Power and Light, Alliant’s utility in Wisconsin, anticipated its Clean Energy Blueprint would save customers between $2 billion and $6.5 billion over the next 35 years. Alliant co-owns the coal plant with Wisconsin Public Service (WPS) and Madison Gas and Electric

Xcel Energy has reported 2020 GAAP and ongoing earnings of $1.47 billion, or $2.79 per share, compared with $1.37 billion, or $2.64 per share in the same period in 2019.

“Xcel Energy had a strong year despite the challenges brought on by COVID-19,” said Ben Fowke, chairman and CEO. “We achieved major milestones while keeping our employees and customers safe and are well positioned for the coming year and beyond.”

“I’m proud of the support we provided our communities, committing nearly $20 million to short and long-term corporate giving. Our $750 million plan to repower several wind farms in Minnesota was approved, which is expected to result in substantial customer savings and jobs creation. In Colorado, we received approval for an electric vehicle plan and are excited about the related opportunities. We also announced the early retirement of the Hayden and Craig coal plants and plans to convert our Harrington facility to natural gas. These achievements move us closer to achieving our goals of an 80 percent carbon reduction by 2030 and delivering 100% carbon-free electricity by 2050.”

At the end of 2020, Xcel Energy became one of the first energy providers in the United States to reach 10,000 megawatts of wind energy capacity online for customers in the states it serves. The milestone is powered by the company’s 10 new wind projects in the Upper Midwest, Colorado, Texas and New Mexico.

As new projects continue to come online in 2021, the company estimates more than thirty-one percent of its nameplate energy capacity will come from wind by the end of the year. Additionally, Xcel Energy owns and operates much of the new wind, increasing its owned projects from 850 megawatts, to 4,469 megawatts by the end of the year.

The Public Service Commission has voted to spend up to $181,000 in ratepayer funds to study the potential for customer-owned generation, paying special attention to low-income households. The results could inform the commission’s policy decisions in the coming years, particularly on how to allocate resources within Focus on Energy, the statewide energy savings program.

“This type of study is going to be essential to figure out what the balance is between renewables and efficiency,” said Commissioner Tyler Huebner, who noted the potential for energy savings is diminishing as LED bulbs become the standard. “If we don’t have this study, we’re going to be guessing in the dark.”

Wisconsin typically studies the potential for energy efficiency gains every four years, but it hasn’t looked at solar energy since 2009 when rooftop solar was little more than a novelty. As of 2019, there were 6,646 customer-owned systems with a combined capacity of roughly 100 megawatts.

The costs of repairing WEC Energy Group’s downtown Milwaukee headquarters, from what the company said was a superheated steam release when the company’s underground steam-power tunnels flooded in May 2020, have risen to an estimated $60 million. Wisconsin Electric customers will be required to pay a portion of the costs not covered by insurance, but the company has absorbed some of the costs. The company’s initial estimate in June 2020 was about $10 million, but by August 2020, Wisconsin Electric estimated restoration work would cost up to $37 million in a letter to the Public Service Commission of Wisconsin.

WEC Energy Group has reported fourth-quarter net income of $239.3 million. The company said it had a profit of 76 cents per share. The results surpassed Wall Street expectations. The electricity and natural gas provider posted revenue of $1.93 billion in the period. For the year, the company reported a profit of $1.2 billion, or $3.79 per share. Revenue was reported as $7.24 billion. WEC Energy expects full-year earnings to be $3.99 to $4.03 per share.

On December 30, 2020, Madison Gas and Electric (MGE) filed an application with the Public Service Commission of Wisconsin (PSCW) for approval of an agreement to partner with the City of Madison and the Madison Metropolitan School District (MMSD) on an 8-megawatt (MW) solar array in Madison. If approved, the electricity generated by this local source of clean energy will increase renewable energy use in City operations by nearly 20%. It is expected the solar array will begin generating electricity by the end of 2021. The cost of the project is estimated to be approximately $15.3 million.

“We have partnered with the City of Madison and the school district on a number of projects over the years. This new solar partnership, which provides another source of locally generated clean energy, is another step toward our shared energy goals,” said Jeff Keebler, MGE Chairman, President and CEO. “Another 8 megawatts of locally generated, cost-effective, carbon-free energy on our electric grid will help MGE achieve our goal of net-zero carbon electricity for all customers by 2050.”

“We are working hard to have 100% of our municipal operations on renewable energy by 2030,” said Madison Mayor Satya Rhodes-Conway. “Projects like these are critical to achieving that goal. We are happy for the partnership we’ve had with MGE and MMSD on this project and look forward to continuing that partnership in the future.” 

The solar array will consist of about 28,000 solar panels and will cover approximately 53 acres of land north of Dane County’s Rodefeld Landfill in southeast Madison. If approved, the project will be developed by NextEra Energy Resources Development, LLC.

To learn more about this new 8-megawatt MGE Solar Energy partnership with the City of Madison and the Madison School District; as well as, the 9-megawatt Dane Cty Regional Airport project. Click Here

Menomonee Falls Harley-Davidson completed a record-breaking project with We Energies in November: the largest single rooftop solar panel system in Wisconsin.

Harley-Davidson’s project is part of WE Energies’ overall project to use solar energy to provide clean energy to all We Energies customers. The focus is to reduce emissions and to provide clean energy to all of its customers, said We Energies spokesperson Brendan Conway.

This project, part of We Energies’ “Solar Now” pilot program, put nearly 8,400 solar panels on the roof at Harley-Davidson’s Pilgrim road powertrain operations facility, said Conway. The panels can produce 2.25 megawatts — enough energy to power more than 400 homes.

We Energies will retire the oldest part of its coal-fired power plant complex in Oak Creek in 2023 and 2024 as its parent company shifts to more efficient power generation, including renewables, as part of its largest-ever capital projects outlay of $16 billion. The retirements will not include the Elm Road Generating Station in Oak Creek, which was part of the $7 billion Power the Future initiative completed a decade ago.

Xcel Energy’s New Electric Vehicle Vision includes partnerships with companies aimed at replacing fleet vehicles with EVs; as well as, providing the charging infrastructure and customer programs to encourage individual ownership of EVs.

The transition to more electric cars, trucks and buses will also help keep bills low for all customers, including those who don’t drive an EV. The additional electricity sales generated by EVs more than pay for the system investment required to support them. So as more vehicles transition to electric, everyone will benefit from cleaner air and lower bills.

Xcel Energy is developing its EV plans and partnerships with a focus on equity, accessibility and fairness, allowing everyone to benefit from the growth of EVs. In addition to helping customers who own EVs charge up at home and on the go, its programs aim to give all customers access to clean, affordable, electric transportation. That includes working with transit agencies and car sharing organizations to increase access to the benefits of electric transportation, especially for those in underserved communities.

Xcel Energy will help lead the way in its own operations, with plans to electrify all sedans by 2023, electrify all light-duty vehicles by 2030 and have 30% of its medium- and heavy-duty vehicles electrified by 2030.

Madison Gas and Electric has published its annual Corporate Responsibility and Sustainability Report, detailing its sustainable energy goals and findings from the University of Wisconsin’s analysis of the company’s goal of net-zero carbon electricity by 2050. The report covers the company’s response to the COVID-19 pandemic, its clean energy investments and its partnerships with customers and other stakeholders to advance sustainability and to serve the community.

DEBT FORGIVENESS PROGRAM FOR ALLIANT CUSTOMERS APPROVED
The Public Service Commission of Wisconsin has voted to approve an Arrears Management Program (AMP) proposed by Alliant Energy’s Wisconsin subsidiary, Wisconsin Power and Light. The approval of WPL’s AMP marks the most recent offering from Wisconsin’s large, investor-owned utilities to support low-income customers.

According to WPL, the AMP offers financial assistance to customers who are likely to be hit hardest by the COVID-19 pandemic. Eligible, low-income residential customers would be automatically enrolled to receive a 25 percent reduction in their arrears balance and additional reductions each month they keep current with their utility bills.

“We’ve seen the effects of COVID-19 disproportionally impact people of color as well as low income households,” said Rebecca Cameron Valcq, chairperson of the PSC. “Programs like these are not only the right thing to do, but our analysis shows that the benefits to the utility and all customers outweigh the costs.”

RULES UPDATED ON CUSTOMER-OWNED POWER SOURCES
The Public Service Commission has approved parameters for revising administrative codes governing “distributed generation facilities” such as rooftop solar panels, hydroelectric dams and biogas generators. Renewable energy advocates had complained that the seventeen-year-old rules were out of date.

WOOD COUNTY SOLAR FARM APPROVED
Wisconsin regulators have authorized construction of a 150-megawatt solar farm in Wood County that Alliant Energy is seeking to buy as part of a $900 million investment in clean energy. The Public Service Commission voted unanimously in early January to let Savion Energy build the plant on about 1,200 acres of mostly woodlands in the town of Saratoga, south of Wisconsin Rapids. The commission is separately considering Alliant’s application to purchase the project for about $194 million.

According to an environmental assessment, the land is owned by Golden Sands and Full Circle Farmland and is primarily used as a red pine plantation for timber production. The project received widespread public support but was opposed by a couple whose property is abutted on three sides by the project area. Under Wisconsin law, the project owner will pay $600,000 a year to the county and town.

Alliant has proposed to build or buy six solar farms that together would supply enough electricity to power about 175,000 homes and is expected to file applications this year for another 325 megawatts of solar generation.

REFINANCING OF WE DEBT ALLOWED
The Public Service Commission has voted unanimously to allow We Energies to issue bonds for $100 million of its investment in pollution controls at the Pleasant Prairie plant, which shut down in 2018. The financing arrangement, known as securitization, is expected to save ratepayers about $40 million while allowing the utility to recover its investment. Similar to refinancing a mortgage, securitization allows a utility to sell low-interest bonds and use the proceeds to pay back investors for the cost of an asset, such as a power plant, that is no longer in service. Ratepayers then pay back the bond holders at a much lower interest rate — in this case around 2.5% versus more than 9.5% without securitization.

Alliant Energy has been named one of the country’s most responsible companies in 2021 by Newsweek. The list covers 14 industries and includes the top 400 responsible companies in the U.S.
“We are pleased to be recognized as one of America’s Most Responsible Companies,” says John Larsen, Chairman, President, and CEO of Alliant Energy. “Guided by our purpose-driven strategy to serve customers and build stronger communities, we are generating cleaner energy while ensuring it’s affordable, safe and reliable. We act today for a better tomorrow.”