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MGE APPROVED TO BUY SHARE OF SOUTHERN WISCONSIN SOLAR ENERGY CENTER

Madison Gas and Electric has been approved by the Public Service Commission of Wisconsin to purchase more solar energy and battery storage.

MGE can now purchase solar energy and battery storage from the Darien Solar Energy Center and will own 25 megawatts (MW) of solar energy and 7.5 MW of battery storage from a solar battery storage facility in Rock and Walworth counties in southern Wisconsin.

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Xcel Energy Board Declares Dividend on Common Stock

The Board of Directors of Xcel Energy has declared a quarterly dividend on its common stock of 48.75 cents per share. The dividends are payable January 20, 2023, to shareholders of record on December 29, 2022.

PUBLIC SERVICE COMMISSION APPROVES THIRD PARTY SOLAR FINANCING

The Public Service Commission has voted 2-1 to approve a petition on third-party financing of small-scale solar power systems. PSC’s order will allow North Wind Renewable Energy Cooperative to build solar panels on a family’s home and lease them to the family. Renewable developers and environmental advocates supported the decision, while utilities argued that solar financers are effectively building power infrastructure and selling energy to the public through leases and power purchase agreements. PSC has yet to issue a full written order, and the legal implications of its decision are still unclear.

WUI and utilities had opposed the action and questioned whether the Commission had the authority to make the decision without legislative action.

UTILITY REGULATORS APPROVE RATE HIKES FOR WE ENERGIES AND WISCONSIN PUBLIC SERVICE

Wisconsin utility regulators have approved rate hikes for electric and natural gas customers served by two of the state’s largest utilities, but they reduced returns utilities can collect. The Wisconsin Public Service Commission has approved overall electric rate hikes of 8.8 percent for We Energies and nine percent for Wisconsin Public Service, according to commission staff. The increase is higher than utilities had initially proposed, but less than changes they suggested later that would have shifted more costs to residential customers.

This fall, the utilities owned by Milwaukee-based WEC Energy Group asked for electric rate hikes of thirteen percent for We Energies residential customers and a nearly fifteen percent increase for Wisconsin Public Service.

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HENRY VILAS ZOO AND ATC PARTNER TO IMPROVE ANIMAL HABITAT

Animals at the Henry Vilas Zoo recently received a donation of roughly ten logs and stumps for enrichment purposes, courtesy of American Transmission Company., Asplundh Tree Expert LLC, and some village of Oregon property owners.

“We are so grateful to ATC, and their contractor Asplundh, for bringing their specialized equipment and staff to the Zoo to place these huge logs and stumps in some of our animal exhibits,” said Beth Petersen, general curator of animals at the Henry Vilas Zoo. “As a free zoo, it is vital for us to have strong community partnerships like these that have an immediate benefit to animal welfare.”

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MGE RELEASES ANNUAL CORPORATE RESPONSIBILITY AND SUSTAINABILITY REPORT

Madison Gas and Electric has published its annual Corporate Responsibility and Sustainability Report, detailing its environmental, social and commitments and progress toward the company’s sustainability goals. The report is a comprehensive overview of the company's activities and performance in fulfilling its role as a critical services provider, environmental steward, and community resource and partner.

"MGE was one of the first utilities nationwide to set a goal of net-zero carbon electricity by 2050, and we continue to work toward our goal of reducing carbon at eighty percent by the end of this decade,” according to Chairman, President and CEO Jeff Keebler.

WEC ENERGY GROUP, EPRI COMPLETE WORLD'S FIRST-OF-ITS-KIND HYDROGEN POWER TEST

WEC Energy and EPRI have announced the successful demonstration of blending hydrogen in a natural gas generator. The project is the first hydrogen power test of a utility-scale, grid-connected reciprocating engine generator in the world.

During two weeks of testing in mid-October, hydrogen and natural gas were tested in blends up to 25/75 percent by volume to power one of the reciprocating engine generating units that serves customers of Upper Michigan Energy Resources, a WEC Energy Group subsidiary. The testing was performed on an 18-megawatt unit that uses a technology known as RICE — reciprocating internal combustion engines. The RICE unit was continually monitored during the test to measure performance, output and emissions data.

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MARK STOERING RETIRING FROM XCEL ENERGY

Mark Stoering, President, Xcel Energy-Wisconsin and Michigan, is retiring at the end of the year after more than 33 years of service to the company. He played key roles in laying the foundation for the company’s clean energy strategy, including leading the development of community solar in Wisconsin and the first company-owned wind farms.

 “Mark has had a tremendous impact on our company and, more importantly, the hundreds of communities we serve in Wisconsin and Michigan,” said Bob Frenzel, Chairman, President and CEO of Xcel Energy, Inc. “He has always been a great innovator and leader and has built a strong team that will carry on his legacy.”

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KARL HOESLY TO LEAD XCEL ENERGY-WISCONSIN & MICHIGAN

Xcel Energy is pleased to announce that Karl Hoesly will succeed Mark Stoering as the next President for Xcel Energy-Wisconsin and Michigan beginning December 1, 2022.

Hoesly has worked for Xcel Energy for 15 years and currently serves as the Regional Vice President for Rates and Regulatory Affairs, a position he has held since 2018. In this role, he provides overall direction and leadership of Xcel Energy’s regulatory affairs function in Wisconsin and Michigan. He is also part of the senior management team that develops the company’s strategy and policies in the regulatory, legislative and customer service areas. Hoesly was previously Manager of Regulatory Affairs. 

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Xcel Energy Third Quarter 2022 Earnings Report

Xcel Energy has reported 2022 third quarter GAAP and ongoing earnings of $649 million, or $1.18 per share, compared with $609 million, or $1.13 per share in the same period in 2021.  Earnings reflect capital investment recovery and other regulatory outcomes, partially offset by higher depreciation, interest expense and operating and maintenance (O&M) expenses.

“Xcel Energy had a strong third quarter – both operationally and financially – which has allowed us to narrow our 2022 earnings guidance to $3.14 to $3.19 per share,” said Bob Frenzel, Chairman, President and CEO of Xcel Energy.

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Alliant Energy announces third quarter 2022 results

Alliant Energy has announced U.S. (GAAP) and non-GAAP consolidated unaudited earnings per share (EPS) for the three months ended September 30.

Utilities and Corporate Services - Alliant Energy’s Utilities and Alliant Energy Corporate Services, Inc. (Corporate Services) operations generated $0.99 per share of GAAP EPS in the third quarter of 2022, which was $0.02 per share lower than the third quarter of 2021. The primary drivers of lower EPS were higher interest expense and timing of income tax expense.

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WEC Energy Group Reports Third-Quarter Results

WEC Energy Group has reported net income of $302.0 million, or 96 cents per share, for the third quarter of 2022 — up from $290.0 million, or 92 cents per share, in last year's third quarter.

For the first nine months of 2022, the company recorded net income of $1.16 billion, or $3.65 per share, up from $1.08 billion, or $3.40 per share, in the corresponding period a year ago.

Consolidated revenues totaled $7.0 billion for the first nine months of 2022, up $924.9 million over revenues for the first nine months of 2021.

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WEC ENERGY GROUP WILL SPEND $360 MILLION TO OWN PART OF ILLINOIS SOLAR FARM

WEC Energy Group will become the majority owner of a large Illinois solar farm that will provide energy for a single Fortune 100 company.

The 250-megawatt Maple Flats Energy Center is being built in south central Illinois by Invenergy, a renewable-energy developer based in Chicago. The 1,500-acre solar array will produce enough electricity to power 75,000 homes, but that energy will be sold under a long-term contract to a single customer that the company did not identify.

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XCEL ENERGY COMPANY PLANS EARLIER COAL PLANT RETIREMENT

Xcel Energy has announced a proposal to advance the retirement of coal operations at Tolk Generating Station in Texas to 2028, more than four years earlier than planned. With this earlier retirement, along with accelerated coal plant retirements in other states, the company will exit the use of coal by the end of 2030 when the Comanche 3 coal unit in Colorado retires.

The company is leading the nation’s clean energy transition as it reduces carbon emissions 80% by 2030 for electric customers, with a vision to achieve 100% carbon-free electricity by 2050. Retiring coal generation while continuing to add reliable and affordable clean energy sources are key to Xcel Energy’s strategy in the eight states it serves.

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ACT NOW! STOP NON-REGULATED UTILITY OPERATIONS!

Link to Comment on  Docket 9300-DR-105

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Xcel Energy Announces Vision to Power All Vehicles With Carbon-Free Energy by 2050

Xcel Energy has announced a new transportation vision that drives toward providing the infrastructure and energy to run all vehicles in its service area on carbon-free electricity or other clean energy by 2050. Expanding upon the company’s existing 2030 electric vision supports its overall goal to become a net-zero energy provider by 2050. By enabling a zero-carbon transportation future, the company’s clean energy can also help customers save billions of dollars in fuel costs and deliver cleaner air for everyone.

“Xcel Energy is making incredible progress and has already reduced power sector carbon emissions by fifty percent since 2005,” said Bob Frenzel, Chairman, President, and CEO of Xcel Energy. “As we expand our clean energy leadership to transportation, which is the largest emitter of greenhouse gases in the nation, we know that electric vehicles are a key component of our comprehensive strategy to be a net-zero energy provider by 2050.”

MGE Energy Increases Dividend for 47th Consecutive Year

The Board of Directors of MGE Energy has announced an increased the regular quarterly dividend rate approximately five percent to $0.4075 per share on the outstanding shares of the company's common stock. The dividend is payable September 15, 2022, to shareholders of record September 1, 2022. This raises the annualized dividend rate by eight cents from $1.55 per share to $1.63 per share.

"Today's dividend increase marks the company's 47th consecutive year of increasing its dividend, an accomplishment that everyone at MGE Energy can be proud of. We recognize the importance of dividend growth to the overall shareholder value proposition," Chairman, President and CEO Jeff Keebler said. "We continue to move forward in our clean energy transition to achieve our goals of net-zero carbon emissions by 2050 and carbon reductions of at least 80% by 2030. Today's action by our board demonstrates the continued strength and resilience of MGE Energy's long-term business strategy in building your community energy company for the future."

MGE Energy has increased its dividend annually for the past 47 years and has paid cash dividends for more than 110 years.

ATC Named to Best Workplaces in List

Great Place to Work® and Fortune magazine have honored American Transmission Company as one of the 2022 Best Workplaces in Manufacturing & Production™. This is the fifth consecutive year ATC was named to this prestigious list, and the seventh overall time, this year coming in at number 13 on the list. Earning a spot means that ATC is one of the best companies to work for in the country.

The Best Workplaces in Manufacturing & Production award is based on analysis of survey responses from 57,000 current employees in the manufacturing and production industry category. In that survey, eighty-eight percent of ATC’s employees said ATC is a great place to work compared to fifty-seven percent of employees at the average U.S. company.

Wind Farm Site Being Prepped for Turbine Construction

Construction activities are underway at the future site of the Red Barn Wind Farm in Grant County. A subsidiary of Madison Gas and Electric will purchase a ten percent share of the 92-megawatt (MW) project when it’s complete.

Minnesota-based ALLETE Clean Energy is constructing the wind farm, which will consist of 28 turbines over about 12,000 acres. The land hosting the turbines will be leased from local landowners, who may continue to use it for farming or grazing. MGE’s share of the project is expected to generate enough energy to power about 4,000 households.

The company’s investment in the Red Barn Wind Farm is one of several renewable energy projects in various stages of development.

Natural Gas Wholesale Commodity Prices Increase; Xcel Explains How Customers Can Save Energy and Money

The price of natural gas affects both natural gas service and electric service because natural gas is also used to generate electricity. The cost of natural gas is paid directly by customers without any markup from Xcel Energy.

Wholesale natural gas prices continue to increase, hitting a fifteen year high. The wholesale price of natural gas was also higher than anticipated in the third quarter, leading to an under-collection from electric customers.

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