Filtered by tag: Newsletter Remove Filter

XCEL AWARDS $10,000 TO MINNEAPOLIS NONPROFIT MAD DADS

Xcel Energy has announced a $10,000 grant to MAD DADS, a Minneapolis-based nonprofit that offers safe, positive youth programming and job creation, as part of the Xcel Energy Foundation’s 2023 Employee Choice Grant awards. MAD DADS received the most votes from Xcel Energy employees in Minnesota. Each year, employees nominate nonprofits for the award.

A panel of employees select finalists that align with the company’s values and Foundation’s focus areas. Employees statewide then vote for a single finalist.

WEC ENERGY GROUP TO REPLACE REFERENCE RATE FOR JR SUBORDINATED NOTES

WEC Energy Group has announced that CME Term SOFR, as administered by the CME Group Benchmark Administration, will be the replacement reference rate for WEC Energy Group's 2007 Series A Junior Subordinated Notes due 2067 (CUSIP:976657AH9) (the "Notes"), replacing U.S. dollar LIBOR as the reference rate.
In accordance with the Adjustable Interest Rate (LIBOR) Act (the "LIBOR Act") and the regulation issued by the Board of Governors of the Federal Reserve System on Dec. 16, 2022, implementing the LIBOR Act (the "LIBOR Rule"), the applicable tenor of three month CME Term SOFR will be the reference rate for calculations of the amount of interest payable with respect to interest periods with reference rate determination dates occurring after June 30, 2023, and specifically August 15, 2023, in the case of the Notes.
In the case of the Notes, the replacement rate, and therefore calculation of the amount of interest payable on the above security for interest periods with reference rate determination dates that occur after June 30, 2023, will also include the applicable tenor spread adjustment of 0.26161 percent per annum, as specified in the LIBOR Act.

XCEL ENERGY SURPASSES CARBONFREE ELECTRICITY GOAL

More than half of the power Xcel Energy generates across the eight states it serves now comes from carbon-free sources, the company announced in its 18th annual Sustainability Report.
Carbon-free energy made up 53 percent of the company’s 2022 energy mix, compared to an average of 41 percent nationwide. The company has also reduced carbon emissions associated with the electricity it provides to customers by 53 percent from 2005 levels.
The Sustainability Report details the company’s progress in transitioning to clean energy while maintaining reliable and affordable natural gas and electricity service, as well as the company’s commitments to further strengthen communities and value the people that make up its workforce.
“Xcel Energy is at the heart of our nation’s clean energy transition,” said Bob Frenzel, Chairman, President, and Chief Executive Officer of Xcel Energy. “Guided by our customers’ priorities and enabled by rapidly changing technology, we’re driving toward a clean energy future, bringing reliable, affordable, increasingly clean energy to millions.”
Xcel Energy was the first U.S. energy provider to set aggressive goals to reduce carbon emissions from the most significant ways customers use energy: for electricity, heating and transportation. In 2018, the company set a goal to provide customers with 100 percent carbon-free electricity by 2050 and reduce carbon emissions from its operations by 80 percent from 2005 levels by 2030.

XCEL ENERGY'S MULTI-DAY BATTERY STORAGE APPROVED

Xcel Energy has received approval from Minnesota regulators to construct a multi-day energy storage system that will help maximize the company’s use of renewable energy and maintain grid reliability through extreme temperatures and weather.
The demonstration-scale, 10 megawatt/1,000 megawatt hour iron-air battery system, developed by Massachusetts based
Form Energy, will be installed on 5 acres of land near the Sherburne County Generating Station in Becker, Minnesota. The project will be located near one of the largest solar developments in the U.S., Sherco Solar, which is now in development and will add up to 710 megawatts of renewable energy to the grid.
Construction of the battery system will start in the second quarter of 2024, with the battery expected to come online as early as 2025. The project is expected to support 15 to 20 construction jobs and generate $9 million in local tax revenue. “Multi-day battery storage has the potential to help us better harness the renewable energy we generate while ensuring the grid remains reliable for our customers,” said Bria Shea, regional vice president, regulatory policy for Xcel Energy– Minnesota. “We look forward to bringing this system online at our Sherco site and learning more about the role it can play in our larger effort to reach 100% carbon-free electricity.” The project is one of two battery storage projects to be installed at the sites of retiring Xcel Energy coal plants, with the other location at the Comanche Generating Station in Pueblo, Colorado. The batteries will allow Xcel Energy to store renewable energy such as solar and wind when it is being produced and then later distribute the energy during periods of lower production.

PURCHASE OF DARIEN SOLAR ENERGY CENTER APPROVED

Madison Gas and Electric in partnership with We Energies and Wisconsin Public Service subsidiaries of WEC Energy Group, has received approval from the Public Service Commission of Wisconsin to purchase solar energy and battery storage from the Darien Solar Energy Center. MGE will own 25 megawatts (MW) of solar energy and 7.5 MW of battery storage from the 250-MW solar and 75-MW battery storage facility in Rock and Walworth counties in southern Wisconsin.
"The Darien Solar Energy Center is another important step in our ongoing transition to cleaner energy sources, reducing carbon at least 80 percent by the end of this decade and achieving net-zero carbon electricity by 2050," according to Jeff Keebler, Chairman, President and CEO. "MGE's investments in cost-effective, clean energy and battery storage technology help ensure that all our customers will experience the economic and environmental benefits of our clean energy transition."

XCEL ENERGY SURPASSES FIFTY PERCENT CARBON-FREE ELECTRICITY

More than half of the power Xcel Energy generates across the eight states it serves now comes from carbon-free sources, the company announced in its 18th annual Sustainability Report.
Carbon-free energy made up 53 percent of the company’s 2022 energy mix, compared to an average of 41 percent nationwide. The company has also reduced carbon emissions associated with the electricity it provides to customers by 53 percent from 2005 levels. The Sustainability Report details the company’s progress in transitioning to clean energy while maintaining reliable and affordable natural gas and electricity service, as well as the company’s commitments to further strengthen communities and value the people that make up its workforce.
“Xcel Energy is at the heart of our nation’s clean energy transition,” said Bob Frenzel, Chairman, President and Chief Executive Officer of Xcel Energy. “Guided by our customers’ priorities and enabled by rapidly changing technology, we’re driving toward a clean energy future, bringing reliable, affordable, increasingly clean energy to millions.”
Xcel Energy was the first U.S. energy provider to set aggressive goals to reduce carbon emissions from the most significant ways customers use energy: for electricity, heating and transportation. In 2018, the company set a goal to provide customers with 100 percent carbon-free electricity by 2050 and reduce carbon emissions from its operations by 80 percent from 2005 levels by 2030. 
The company has begun to implement its Colorado and Upper Midwest energy plans, which outline the new energy generation, transmission infrastructure, and other resources it will develop to meet its 2030 goal. Xcel Energy also plans to exit from coal by the end of 2030 if regulators approve its proposal to retire coal operations at Tolk Generating Station in Texas four years ahead of schedule. To support the reliability and resiliency of the grid as this transition continues, the company is helping to incubate and scale emerging technologies, including demonstration-scale projects in long-duration battery storage and clean hydrogen production. Xcel Energy also continues to develop new transmission lines and in 2022 received approval for Colorado’s 560- to 650-mile Power Pathway project. The company has built more miles of transmission over the last 15 years than any other utility in the U.S.
Through the clean energy transition, the company is reducing other environmental impacts of its operations as well. Since 2005, Xcel Energy has reduced water consumption from owned and purchased energy generation by 39 percent and air emissions of sulfur dioxide and nitrogen oxides from its power plants by about 80 percent.

ALLIANT ENERGY NAMES EXECUTIVE VICE PRESIDENT – STRATEGY AND CUSTOMER SOLUTIONS

Lisa Barton, Alliant Energy President and Chief Operations Officer, has announced that Raja Sundararajan has been named Executive Vice President of Strategy and Customer Solutions of Alliant Energy effective June 12, 2023. 

“Sundararajan is a strategic thought leader in the energy industry who understands the transformation the sector is embarking on and has the leadership skills necessary to drive strategies and solutions for our customers,” said Barton. “His proven leadership and utility experience have been central to his ability to develop new approaches that enhance the customer experience. I am excited for him to join our leadership team and am confident he will help accelerate our strategy. He will play a key role in how we deliver on our purpose – to serve customers and build stronger communities.”  

In this role, Sundararajan will be responsible for the continued refinement of Alliant Energy’s long-term strategy and enhancement of the customer experience. He will have responsibility for the company’s corporate and regulatory strategy, positioning the company to create and develop solutions in an ever-changing landscape. Sundararajan will partner across the enterprise to leverage technology investments and work with operations’ leadership to drive continued growth. He also will be responsible for leading the company’s government affairs, renewables and business development, product offerings, marketing, communications and supply chain functions.  

Sundararajan said, “Alliant Energy is an industry leader in energy transition with a focus on serving customers and building stronger communities. I am excited about the opportunity and look forward to working alongside Alliant Energy’s talented employees.” 

Sundararajan began his career with General Motors as a Senior Product Engineer before moving to the energy industry in 2004, working for American Electric Power in Columbus Ohio. Over his near 20-year history with American Electric Power, Sundararajan held roles in Corporate Finance, Investor Relations and Market Risk before ascending to executive roles as Vice President of Transmission Strategy, as well as Vice President of Regulatory Services. In 2019, he was promoted to President and Chief Operations Officer of American Electric Power, Ohio, and subsequently in 2021 he took on the role of Senior Vice President of Regulatory and Customer Solutions. Most recently, he held the role of Executive Vice President of External Affairs at American Electric Power. 

Sundararajan earned his Bachelor of Technology degree in Mechanical Engineering from the Indian Institute of Technology, and his Master’s degree in Mechanical Engineering from the University of Maryland. Additionally, he holds an MBA from the University of Michigan. 

ALLIANT ENERGY INSTALLS SOLAR PANELS AT BEAVER DAM SOLAR PROJECT

Alliant Energy has begun the installation of solar panels at its 50-MW Beaver Dam Solar Project site. A ceremony was attended by executives, team members, construction partners, local leaders, neighbors, and participating landowners. Located in Dodge County, Wisconsin, just east of Beaver Dam, the project is part of Alliant Energy's Clean Energy Blueprint, an ambitious plan to expedite the development of renewable energy and decrease carbon emissions in a cost-effective manner.  The construction of this particular site is set to be completed by the end of 2023.

Overall, Alliant Energy's Clean Energy Blueprint comprises 12 utility-scale solar projects in Wisconsin, which will collectively generate almost 1,100 MW of energy once they are operational. Three of these projects, producing a combined total of 250 MW, commenced operations in late 2022, while the remaining nine are currently under construction.

We ENERGIES EMPLOYEES PLEDGE MORE THAN $160,000 to UPAF

We Energies employees have contributed more than $160,000 to support performing arts in southeastern Wisconsin.

Hundreds of employees pledged part of their paycheck during the annual United Performing Arts Fund (UPAF) campaign. On top of that, the We Energies Foundation will match all employee donations over $50.

Read More

WISCONSIN PUBLIC SERVICE COMMISSION STUDIES POSSIBLE LOW-INCOME ASSISTANCE PROGRAMS

Wisconsin’s utility regulator has received input from customers hoping to guide an investigation into alternative low-income assistance programs at two of the state’s largest utilities.

The Public Service Commission of Wisconsin hosted listening sessions in Green Bay and Milwaukee. The listening sessions followed rate increases regulators approved late last year for two WEC Energy Group utilities — We Energies and Wisconsin Public Service. 

Read More

HO-CHUNK GAMING WISCONSIN DELLS ADDS ELECTRIC CHARGERS

Ho-Chunk Gaming Wisconsin Dells has hosted a ribbon cutting for one of Wisconsin’s largest and fastest public electric vehicle (EV) charging stations placed at Ho-Chunk Gaming Wisconsin Dells. Casino officials, Ho-Chunk Nation President, Marlon White-Eagle, and officials from Alliant Energy, Inertial Electric, and the Baraboo Area Chamber of Commerce were present for the event.

With collaborations from Alliant Energy and Inertial Electric, two ABB Terra 184 fast charging option with pull-in parking as well as a pull-through station which allows easy charging for larger vehicles pulling trailers. Both charging stations are ADA compliant designed and available around the clock in the parking lot just 2 miles south of interstate 90/94, on exit 92.

Read More

FEDERAL ADMINISTRATION TO HELP SUPPLY FEDERAL FACILITIES IN FIVE MIDWEST STATES WITH 100 PERCENT CARBON FREE ELECTRICITY

The U.S. General Services Administration and the White House Council on Environmental Quality (CEQ) have announced a new Memorandum of Understanding (MOU) with Xcel Energy to work toward providing federal facilities in Minnesota, Michigan, North Dakota, South Dakota, and Wisconsin with 100 percent carbon free electricity by 2030.

The federal government hopes to lead by example and leverage its scale and procurement power to tackle the climate crisis. The MOU will advance the Administration’s ambitious goal of sourcing 100 percent CFE to power federal facilities by 2030, at least half of which will be locally-supplied clean energy to meet 24/7 demand.

Read More

EPA IS PREPARING AGGRESSIVE NEW RULES FOR POWER PLANT POLLUTION

The Biden administration is planning to roll out aggressive new rules to regulate planet-warming pollution from natural gas power plants, three sources familiar with the plan and who have been briefed on the rules told CNN, in a move that could face fierce legal challenges.
President Biden's Environmental Protection Agency has been exploring ways to tighten the rules for not just new power plants that will run on natural gas, but existing plants too, the sources said. According to the sources, the rules would be more stringent than previously planned regulations, which aimed to control pollution from new natural gas power plants and would have effectively grandfathered existing plants into older rules.

XCEL ENERGY PLANS TO NEARLY TRIPLE AMOUNT OF SOLAR 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.
Sherco Solar is among the largest solar developments in the U.S. and is key to Xcel Energy’s plans to nearly triple the amount of solar on its Upper Midwest system by 2028. The combined projects’ 710-megawatt capacity will generate enough electricity to power more than 150,000 homes each year on average. Solar energy does not have any fuel costs and contributes to a diversified energy mix which helps protect against rising fuel prices. Xcel Energy expects to qualify for federal tax credits that make construction more affordable, helping customers save money.
“These projects will be the lowest-cost solar on our Upper Midwest system and demonstrate our focus on clean energy without compromising affordability,” said Chris Clark, President, Xcel Energy - Minnesota, South Dakota, and North Dakota. “We are committed to moving the Sherco Solar project forward to deliver significant new clean energy to our customers and communities.”
“These solar projects continue our leadership in providing carbon-free energy to customers in the states we serve,” said Karl Hoesly, President, Xcel Energy - Wisconsin and Michigan. “Through their development, these projects also help our communities by creating jobs and supporting local businesses.”
Xcel Energy would develop, own, and operate the third Sherco Solar array. Last fall, the PUC approved the first two solar projects at the Sherco plant site. Construction began on the first project in late April.

XCEL ENERGY RECEIVES $20 MILLION GRANT FOR IRON-AIR MULTI-DAY BATTERY STORAGE

Xcel Energy has announced that Breakthrough Energy Catalyst has agreed to commit $20 million in grant funding to support two multi-day energy storage projects designed to maximize the use of renewable energy while maintaining the reliability of the grid. The grant would provide $10 million each for two 10 MW/1,000 MWh iron-air battery systems, subject to the satisfaction of certain funding conditions.
Xcel Energy and Massachusetts-based Form Energy announced in January an agreement to construct the batteries at the sites of retiring coal plants: the Sherburne County Generating Station in Becker, Minnesota, and the Comanche Generating Station in Pueblo, Colorado. The batteries will allow Xcel Energy to store renewable energy such as solar and wind when it is being produced and then later distribute the energy during periods of lower production.
“Innovative long-duration energy storage technologies are crucial to achieving 100 percent carbon-free electricity,” said Bob Frenzel, Chairman, President and CEO of Xcel Energy. “This Catalyst grant will accelerate adoption of this promising new technology, which allows us to provide higher percentages of renewable energy while still providing affordable electric service to our customers.”

DAY AT THE CAPITOL THANK YOU!

Thank you to all the WUI Members who travelled by car or bus to the State Capitol on May 10th to represent more than 50,000 Wisconsin Utility Shareowners before 43 State Senators and Representatives. It was a beautiful day and the tulips around the state capitol were in full bloom. A special Thank you to the Chairman of the Utility & Technology Committee, Julian Bradley, who spoke to our group following lunch.

ALLIANT ENERGY ANNOUNCES FIRST QUARTER 2023 RESULTS

Alliant Energy Corporation (NASDAQ: LNT) today announced U.S. generally accepted accounting principles (GAAP) consolidated unaudited earnings per share (EPS) for the three months ended March 31 as follows:

Read More

KLAPPA, LAUBER HIGHLIGHT EXCEPTIONAL YEAR FOR WEC ENERGY GROUP

At WEC Energy Group's annual meeting of stockholders, Gale Klappa, Executive Chairman, and Scott Lauber, President and CEO, highlighted another strong year on virtually every meaningful measure, from employee safety and customer satisfaction to growth in earnings per share. They also emphasized that the company remains committed to a mission that matters — strengthening the fabric of communities across the Midwest, leading by example and delivering affordable, reliable and clean energy to millions of customers.

Company highlights

  • Reduced carbon emissions from electric generation by nearly 50 percent below 2005 levels.
  • Developed the largest five-year capital plan in company history — including nearly 3,300 megawatts of new renewable capacity to serve We Energies and Wisconsin Public Service customers.
  • Led a pilot program — the first of its kind in the world — to test hydrogen as a fuel source for power generation, in partnership with the Electric Power Research Institute.
  • Continued to strengthen the diversity of company leadership, ending 2022 with the most diverse senior leadership team in company history.
  • Spent $299 million with certified minority-, women-, veteran- and service-disabled-owned businesses.
  • Returned $918 million to WEC Energy Group stockholders through dividends.
  • Increased the dividend level in January 2023 by 7.2 percent to an annual rate of $3.12 per share. This marks the 20th consecutive year of higher dividends

UTILITY REGULATORS APPROVE $649M PURCHASE OF WISCONSIN'S LARGEST RENEWABLE ENERGY PLANT

Three utilities have received approval from Wisconsin utility regulators to buy the state’s largest renewable energy plant.

The Public Service Commission has approved the $649 million purchase of the Koshkonong Solar Energy Center by We Energies, Wisconsin Public Service, and Madison Gas and Electric.

Read More

AMERICAN TRANSITION COMPANY ADOPTS SOLO-DRIVER CONSTRUCTION TECHNIQUE

Introduced and tested in 2019, Solo-Driver Plus was used on a construction project for the first time in its history. The patent-pending foundation installation method installed 80 caisson foundations to support new steel structures for transmission line rebuild project in Adams and Waushara counties.

Set up and driving takes minutes to accomplish with Solo-Driver Plus with very little ground disturbance, making it faster and more environmentally friendly than traditional installation methods.  After the launch of the initial Solo-Driver design in 2015, a team of engineers focused on evolution of the excavator installed caisson concept.  Solo-Driver Plus’s “H” design provided ATC the opportunity to improve drivability and corrosion resistance as well as simplify fabrication, potentially reducing associated costs.  A second variation was also developed and initially tested that has the potential to be used on more heavily loaded structures.

Read More