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PRESIDENT OF ALLIANT ENERGY’S IOWA UTILITY TO RETIRE

Alliant Energy has announced that Terry Kouba, President of Alliant Energy’s Iowa energy company will retire effective May 1, 2024. The Board of Directors has appointed Mayuri (May) Farlinger to succeed Kouba as President of Alliant Energy’s Iowa energy company, and to also serve as Vice President of Operations effective May 1, 2024.

“Terry’s 42 years of dedicated service is a testament to his passion and commitment to serving customers and communities across the state of Iowa,” said John Larsen, Executive Chairman. “His empowering leadership style, experience and focus on operational excellence has served our customers well. On behalf of the Board of Directors, we wish him all the best as he enters his well-deserved retirement.”

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XCEL ENERGY 2023 YEAR END EARNINGS REPORT

Xcel Energy has reported 2023 earnings of $1.77 billion, or $3.21 per share, compared with $1.74 billion, or $3.17 per share in the same period in 2022 and ongoing earnings of $1.85 billion, or $3.35 per share, compared with $1.74 billion, or $3.17 per share in the same period in 2022. Ongoing earnings reflect regulatory outcomes and lower operating and maintenance (O&M) expenses, partially offset by higher depreciation and interest charges.

“2023 was another strong year for Xcel Energy, our customers, our communities, and our investors. This is the 19th consecutive year we have met our earnings guidance, which is critical to maintaining a competitive cost of capital, which benefits our customers and shareholders,” said Bob Frenzel, Chairman, President and CEO of Xcel Energy.

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WEC REPORTS 2023 RESULTS

WEC Energy Group has reported net income based on generally accepted accounting principles of $1.3 billion, or $4.22 per share, for 2023. This compares to earnings of $1.4 billion, or $4.45 per share, for 2022. Full-year 2023 earnings include a non-cash charge of 41 cents per share related to previous capital investments that were disallowed by the Illinois Commerce Commission.

Excluding this charge, WEC Energy Group's adjusted earnings for 2023 rose to $4.63 per share – an increase of four percent over earnings in 2022. For the fourth quarter of 2023, WEC Energy Group recorded net income based on GAAP of $218.5 million, or sixty-nine cents per share. This compares to earnings of $252.7 million, or 80 cents per share, for the fourth quarter of 2022. Excluding the non-cash charge, WEC Energy Group's adjusted earnings for the fourth quarter of 2023 totaled $1.10 per share. Consolidated revenues for the full year were $8.9 billion, down $704.4 million from revenues in 2022. “We delivered another year of strong results in 2023, despite an historically warm start to the year and a disappointing regulatory decision in Illinois,” said Gale Klappa, Executive Chairman. “We have significant growth opportunities ahead. And we will continue to compound value with our focus on the fundamentals — reliability, customer satisfaction, financial discipline, and environmental stewardship.”

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ALLIANT ENERGY REPORTS 2023 RESULTS

Alliant Energy Corporation has reported fourth-quarter 2023 operating earnings of forty-eight cents per share. The bottom line improved 4.3 percent from the year-ago quarter’s figure of forty-six cents.

Full-year 2023 earnings came in at $2.82 per share, up 0.7 percent from the previous year’s level of $2.80. Revenues totaled $961 million, which missed the Zacks Consensus Estimate of $1.3 billion by 23.1 percent. The top line also decreased 9.2 percent from the year-ago quarter’s level of $1.1 billion. Full-year 2023 revenues came in at $4 billion, down 4.2 percent from the previous year’s level of $4.2 billion.

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MGE ENERGY REPORTS FOURTH-QUARTER AND FULL YEAR 2023 EARNINGS

MGE Energy's GAAP (Generally Accepted Accounting Principles) earnings for the full year of 2023 were $117.7 million, or $3.25 per share, compared to $111.0 million, or $3.07 per share, for the same period in the prior year.

MGE continues to invest in new, cost-effective renewable generation, which is helping to fuel the company's asset growth. An increase in electric investments included in rate base contributed to increased electric earnings for 2023. The Red Barn wind project was completed in April 2023 and Badger Hollow II solar project was completed in December 2023.

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XCEL ANNOUNCES NEW CLEAN ENERGY PLAN

Xcel Energy has proposed a new clean energy plan for the Upper Midwest that advances the company’s ambitious carbon reductions while ensuring customers continue to have the reliable, safe and affordable electric service.

Under the proposal, carbon emissions reductions are expected to exceed 80 percent by 2030, potentially reaching up to 88 percent. This positions the company well to meet Minnesota’s new carbon-free standard for 2040 and continues on a path to achieving the clean energy goals of all Upper Midwest states it serves. The plan calls for extending the use of Xcel Energy’s two carbon-free nuclear plants while adding more wind and solar energy, battery energy storage systems, and always-available sources of electric generation capacity.

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PRESIDENT OF ALLIANT ENERGY’S IOWA UTILITY TO RETIRE

Alliant Energy has announced that Terry Kouba, President of Alliant Energy’s Iowa energy company will retire effective May 1, 2024. The Board of Directors has appointed Mayuri (May) Farlinger to succeed Kouba as President of Alliant Energy’s Iowa energy company, and to also serve as Vice President of Operations effective May 1, 2024.

“Terry’s 42 years of dedicated service is a testament to his passion and commitment to serving customers and communities across the state of Iowa,” said John Larsen, Executive Chairman. “His empowering leadership style, experience and focus on operational excellence has served our customers well. On behalf of the Board of Directors, we wish him all the best as he enters his well-deserved retirement.”

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WISCONSIN PSC MAKES STAFFING CHANGES

The Public Service Commission of Wisconsin has announced new appointments within the Commissioners’ Office and the Division of Energy Regulation and Analysis. The appointments were effective February 5, 2024. Commissioner Kristy Nieto announced the appointment of Matt Sweeney as her Executive Assistant (EA). Each Commissioner at the PSC has one EA who advises on issues and matters before the PSC. Matt most recently served as a key advisor to Chairperson Valcq and oversaw the PSC’s public communications, external stakeholder outreach, and legislative affairs. Matt served as the agency’s liaison to Wisconsin’s tribal nations and as the chairperson’s designee on the Wisconsin Public Utility Institute’s Board of Directors. With over 17 years of experience working in state government, Matt previously held policy advisor and legislative relations positions at the Wisconsin Department of Revenue and in the Office of the Governor.

Commissioner Summer Strand assumed the role of chairperson beginning February 5, 2024. Her team includes Kara Pennoyer as the Chief of Staff, Tanner Blair as Director of Policy and Legislative Affairs, and Meghan Sovey as Director of Communications and External Affairs. Commissioner Strand announced the appointment of Kate Christensen as Administrator of the Division of Energy Regulation and Analysis (DERA). DERA is responsible for supporting the mission of the Commission to assure safe, reliable, and fair provision of electricity and natural gas for the customers of the utilities it regulates and ensures Wisconsin’s involvement in regional energy issues. Kate Christensen joined the Commission as a Utility Rate Analyst in 2014. Since 2019, she had served as the Director of Natural Gas Analysis and Safety in the Commission’s Division of Energy Regulation and Analysis. Prior to joining the Commission, Christensen was the Environmental and Utilities Resource Coordinator at Carroll University in Waukesha. As a member of the National Association of Regulatory Utility Commissioners, Kate serves on the Staff Subcommittee on Natural Gas and the Task Force on Natural Gas Resource Planning. She holds an undergraduate degree in Environmental Science from Alverno College and has completed post-graduate courses in planning and management at Johns Hopkins University. She currently resides in Ixonia with her son Reid.

WPS NAMED BEST IN THE MIDWEST FOR RESIDENTIAL CUSTOMER SATISFACTION

Wisconsin Public Service Company has been recognized once again for its commitment to its customers. J.D. Power has named the company the best midsize electric utility in the Midwest for residential customer satisfaction.  WPS is receiving the honor based on its impressive performance in the J.D. Power 2023 Electric Utility Residential Customer Satisfaction Study. The company scored more than thirty points higher in the study than the average score for electric utilities across the United States.  “Every plan, every decision, every improvement we make is dedicated to providing world-class service to our customers,” said Scott Lauber, president and CEO — WPS. “This honor is a reflection of the tireless efforts of our employees, who ensure our customers have the affordable, reliable and clean energy they depend on around the clock."

Committed to excellence for every customer:

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FIRST OF ITS KIND ENERGY PROJECT IN US TO BE CONSTRUCTED IN COLUMBIA COUNTY

Columbia County may soon be home to one of the most sustainable, advanced energy storage systems in the country, according to Alliant Energy. The company has announced it has been selected for a grant of up to approximately $30 million from the U.S. Department of Energy’s Office of Clean Energy Demonstrations (OCED) for a proposed 200-megawatt hour energy storage system. 


Alliant Energy’s new battery system, known as the Columbia Energy Storage Project, would be the first-of-its-kind in the United States and represents a significant advancement toward a more sustainable, reliable and cost-effective energy future.

XCEL ENERGY NAMES NEW PRESIDENT FOR MINNESOTA, NORTH DAKOTA AND SOUTH DAKOTA

Xcel Energy has announced that Chris Clark, current President of Xcel Energy – Minnesota, North Dakota and South Dakota, will retire March 1, 2024. Ryan Long, Xcel Energy’s interim general counsel, will succeed Clark as the new president, effective January 1, 2024.

“I want to thank Chris for his tremendous contributions to the company. He helped lead the nation’s clean energy transition and was instrumental in driving our wind leadership to new heights in the Upper Midwest,’’ said Bob Frenzel, Xcel Energy’s chairman, president and CEO.

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PUBLIC SERVICE COMMISSION REJECTS MGE's PROPOSED CHANGES TO RESIDENTIAL SOLAR REIMBURSEMENT

The Public Service Commission of Wisconsin has rejected a proposal by Madison Gas & Electric that would have changed how the utility reimburses residential solar owners for energy they put back into the grid. 

State regulators are expected to make a decision on a different utility's proposal to change solar reimbursement at a later time. 

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FORD PRO AND XCEL ENERGY COLLABORATE TO INSTALL EV CHARGING PORTS FOR BUSINESS FLEETS

Ford Pro, the commercial division within Ford Motor Company, and Xcel have announced a unique collaboration to support the deployment of 30,000 electric vehicle (EV) charging ports in Xcel Energy service territories across the U.S. by 2030 with most upfront costs offset by Xcel for qualifying business fleet customers.

Ford Pro and Xcel Energy are launching the 30x30 initiative within Xcel Energy’s broader Electric Vehicle Supply Infrastructure (EVSI) program to scale EV adoption and increase access to charging infrastructure for business fleets across Xcel Energy’s service areas in the U.S. Through the program, most upfront costs for EV charging equipment and installation for businesses will be offset by Xcel Energy. Ford Pro will offer its suite of end-to-end charging solutions to Xcel Energy business customers as part of the effort. 

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JC CULLEN INVESTS AS ANCHOR TENANT IN ALLIANT ENERGY'S SOLAR GARDEN IN JANESVILLE

JP Cullen, a $500+ million, full-service construction company headquartered in Janesville with additional offices in Madison and Milwaukee, is the first local business to announce plans to be an anchor tenant in Alliant Energy’s Janesville Community Solar garden. The community-funded solar garden will reduce dependence on fossil fuels and positively affect the environment through the support of residential and business customers.


JP Cullen has purchased 10 percent of the 9,000 solar blocks at the 2.25-megawatt project, to be located east of the Rock Haven Assisted Living facility on county-owned property. The garden will power up to 1,800 homes at maximum output. Alliant Energy will begin construction next spring and expects the project to be operational by the end of 2024.

XCEL BOARD DECLARES DIVIDEND


The Board of Directors of Xcel Energy has declared a quarterly dividend on its common stock of 52 cents per share. The dividends are payable January 20, 2024, to shareholders of record on December 28, 2023.

XCEL ENERGY ANNOUNCES OTHER LEADERSHIP CHANGES

Xcel Energy has announced other changes to its executive leadership team. Brett Carter, Executive Vice President, Group President of Utilities and Chief Customer Officer, is leaving the company to pursue other opportunities. Current Executive Vice President, Chief Legal and Compliance officer Amanda Rome has been named to this role, effective immediately. The company’s four operating company presidents and customer organization leaders will report to Rome.

Ryan Long, Vice President and Deputy General Counsel, will step in as General Counsel and oversee the legal and corporate compliance group on an interim basis.

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WEC ENERGY GROUP REPORTS 3RD QUARTER RESULTS

On October 31, 2023, WEC Energy Group (NYSE: WEC)  reported net income of $316.0 million, or $1.00 per share, for the third quarter of 2023 — up from $302.0 million, or 96 cents per share, in last year's third quarter.

For the first nine months of 2023, the company recorded net income of $1.11 billion, or $3.52 per share — down from $1.16 billion, or $3.65 per share, in the corresponding period a year ago.

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LEGISLATION MAINTAINS WISCONSIN CONTROL OVER TRANSMISSION SYSTEM

Recently introduced legislation (SB 481/AB 470) will allow Wisconsin utilities to maintain control over construction and operation of transmission infrastructure in this state. Without these bills, out of state investors will be allowed build and operate any new transmission lines which will not only harm investors but also consumers because a balkanized system will inevitably be more costly to build an operate.

Specifically, the bills provide a right of first refusal to incumbent transmission line owner/operators for any new transmission line projects. This will protect the current system which is owned and operated primarily by Xcel Energy and the American Transmission Company which, in turn, is owned by Alliant Energy, Madison Gas and Electric, WEC Energy Group and several Wisconsin municipal utilities.

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XCEL ENERGY TO NEARLY TRIPLE SOLAR ON UPPER MIDWEST SYSTEM BY 2028

Xcel Energy is proposing to add an additional 250-megawatt solar project near the existing Sherco plant site in Becker, Minnesota, which will soon be home to the Upper Midwest’s largest solar development and represents an important piece of the company’s clean energy future.

Xcel Energy has asked the Minnesota Public Utilities Commission to add a third solar array adjacent to the 460-megawatt Sherco Solar project already under construction. The three solar projects are expected to be complete by the end of 2025 and will replace the capacity of the Sherco plant’s first coal unit that is scheduled to retire later this year. As part of its expansion of solar energy it delivers to customers, Xcel Energy is also proposing to purchase power from the 100-megawatt Apple River solar project being developed in northwest Wisconsin.

WEC ENERGY GROUP'S CORPORATE RESPONSIBILITY REPORT HIGHLIGHTS PROGRESS

WEC Energy Group has released its 2022 Corporate Responsibility Report. The report provides a comprehensive overview of the company's environmental, social and governance performance. The report outlines the progress made by WEC Energy Group and its family of companies on major projects and the company's commitment to the environment and the economies of the areas it serves.

The report also examines the company's climate strategy and the research and development of emerging technologies such as hydrogen power and long-duration battery storage.

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