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XCEL ENERGY 2022 YEAR END EARNINGS REPORTED

Xcel Energy has reported 2022 GAAP and ongoing earnings of $1.74 billion, or $3.17 per share, compared with $1.60 billion, or $2.96 per share, in the same period in 2021.  Earnings reflect capital investment recovery and other regulatory outcomes, partially offset by increases in depreciation, interest charges and operating and maintenance (O&M) expenses.


“2022 was another solid year for Xcel Energy, where we delivered for our customers, our communities, our employees, and our investors. We delivered earnings of $3.17 per share, which is the 18th consecutive year we have met or beat our original earnings guidance,” said Bob Frenzel, Chairman, President and CEO of Xcel Energy.

“Our execution towards our clean energy future continues to lead the industry with regulatory approval in Colorado and the Upper Midwest by dramatically increasing the renewable energy available to our customers as we retire all of our coal-fired plants. And as a result of the energy tax provisions in the Inflation Reduction Act, we are able to reduce the cost to our customers over the assets’ lives by billions of dollars as we power the nation’s clean energy transition.” 

XCEL ENERGY EMPLOYEES AWARD $5,000 TO FEED MY PEOPLE FOODBANK

Xcel Energy has announced that Feed My People Food Bank is the recipient of a $5,000 grant as part of the Xcel Energy Foundation’s 2022 Employee Choice Grant Award. Feed My People received the most votes from Wisconsin and Michigan employees. Each year, employees nominate nonprofits for the award, and all employees statewide then vote for a single finalist.

 “Xcel Energy coworkers are passionate about community service and supporting organizations that make a difference. We were delighted to receive over 30 nominations for this year’s award and know this grant will support Feed My People’s mission to ensure no one goes hungry,” said Karl Hoesly, President of Xcel Energy-Wisconsin and Michigan. 

WEC ENERGY GROUP POSTS 2022 RESULTS

WEC Energy has reported net income of $1.4 billion, or $4.45 per share, for 2022. This compares to earnings of $1.3 billion, or $4.11 per share, for 2021 — a year-over-year increase of 8.3 percent.

For the fourth quarter of 2022, WEC Energy Group recorded net income of $252.7 million, or 80 cents per share. This compares to earnings of $224.2 million, or 71 cents per share, for the fourth quarter of 2021. 

Consolidated revenues totaled $9.6 billion for 2022, up $1.3 billion compared to 2021 revenues.

ALLIANT ENERGY ANNOUNCES 2022 RESULTS

MADISON, Wis. - February 23, 2023 - Alliant Energy Corporation (NASDAQ: LNT) today announced U.S. generally accepted accounting principles (GAAP) and non-GAAP consolidated unaudited earnings per share (EPS) for 2022 and 2021.

“In 2022, we delivered another strong year of financial results, demonstrated by our sixth consecutive year of 6% or more EPS growth and the 20th consecutive year of dividend growth,” said John Larsen, Alliant Energy Chair, President and CEO. “Looking forward to 2023, we are excited to continue executing our Clean Energy Blueprint across Iowa and Wisconsin and delivering the safe, reliable and affordable energy our customers and communities count on.”

Highlights

  • GAAP earnings per share were $2.73 in 2022 compared to $2.63 in 2021



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GOV. EVERS APPOINTS SUMMER STRAND TO THE PUBLIC SERVICE COMMISSION OF WISCONSIN

Gov. Tony Evers has announced his appointment of Summer Strand to the Public Service Commission of Wisconsin (PSC). The appointment fills a vacancy created by the resignation of Ellen Nowak, which was effective March 1. This appointment was effective March 2, 2023, for a six-year term expiring in 2029.

“I’ve had the pleasure of working with Summer on the State Building Commission for the past several years and I am confident that she will be an asset to the PSC and to the people of Wisconsin in this new role,” said Gov. Evers. “Having worked in several roles within state government and with trade and industry professionals alike, Summer will bring a depth of experience, dedication to service, and collaborative skills necessary to be successful at the PSC. I have no doubt she’ll serve the people of Wisconsin well as we continue building our workforce, economy, and state infrastructure for the 21st century.”

Strand has a long history of public service. Strand currently serves on the State of Wisconsin Building Commission (SBC), having been appointed by Gov. Evers in 2019 to serve as the sole citizen member of the commission.

MGE FOURTH QUARTER AND YEAR-END RESULTS

MGE Energy has reported financial results for the fourth quarter of 2022 and for the full year of 2022.

MGE Energy's earnings for the full year of 2022 were $111.0 million, or $3.07 per share, compared to $105.8 million, or $2.92 per share, for the same period in the prior year.

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PRIVATE SOLAR COMPANY SHUTDOWN LEAVES CUSTOMERS AND EMPLOYEES SEARCHING FOR ANSWERS

The abrupt shut down of privately owned Sun Badger Solar  has left customers in Wisconsin, Illinois and Minnesota wondering if their solar installations will be finished or if they will lose deposits for work that was never started.

Customers have lodged dozens of complaints with the Wisconsin Department of Agriculture, Trade and Consumer Protection and Wisconsin Better Business Bureau, and law enforcement agencies in multiple communities are investigating customers' complaints of fraud. Furloughed employees of the Waukesha company wonder, without much hope, if they'll be called back or paid for work they did before the company as its finances unraveled.

REGIONAL VICE PRESIDENTS ANNOUNCED AT XCEL ENERGY

Xcel Energy's Wisconsin and Michigan’s new President, Karl Hoesly, recently announced the promotion of Mara Ascheman as Regional Vice President of Rates and Regulatory Affairs and Tyrel Zich as Regional Vice President of Regulatory Policy. Both will report directly to President Hoesly.

Ms. Ascheman is currently a principal regulatory attorney with more than 12 years’ experience representing Xcel Energy before the Wisconsin and Minnesota state regulatory commissions in a wide variety of electric and natural gas proceedings. In her new role she will direct the development of regulatory rate case filings and Public Service Commission permitting and oversee the revenue requirements for the Wisconsin and Michigan Company.

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ATC ANNOUNCES PROMOTIONS

American Transmission Company has promoted four executives who reflect the company’s commitment to the strategic vision of providing safe, reliable transmission service in an increasingly complex electric grid. Jared Winters has been named Vice President, construction and asset maintenance. Debbie Masbruch has been named Vice President, Project Controls, Supply Chain and Analytics. Sarah Justus has been named Director, Major Project Development. Michelle Stokes has been named Director, Field Services.

Chairman of the Board, President and CEO Mike Rowe said, “Promoting these individuals sets ATC up for success as we meet the business challenges of the evolving energy landscape and our strategic priorities.”

ALLIANT ENERGY APPOINTS LISA BARTON PRESIDENT AND CHIEF OPERATING OFFICER

Alliant Energy Corporation has announced the appointment of Lisa M. Barton to the newly created role of President and Chief Operating Officer, effective February 27, 2023. In this role, Ms. Barton will work closely with John O. Larsen, Alliant Energy’s Chair and Chief Executive Officer, to execute the company’s investment growth plan and continue advancing Alliant Energy’s work to enable a clean energy future for the customers and communities Alliant Energy serves. She will oversee the company’s two public utility subsidiaries, Interstate Power and Light and Wisconsin Power and Light, as well as Alliant Energy’s customer experience, sustainability and regulatory strategies.

Ms. Barton most recently served as Executive Vice President and Chief Operating Officer of American Electric Power, one of the largest electric utility companies in the United States. She was responsible for all of AEP’s regulated operations across eleven states and for the health and safety of 16,700 employees. Ms. Barton is known as a passionate advocate for a responsible clean energy transition. She is credited with guiding AEP’s expansion into regulated renewables and shaping the company’s grid reliability and resiliency initiatives.

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FOR THE THIRD CONSECUTIVE YEAR, ALLIANT ENERGY NAMED ONE OF AMERICA’S MOST RESPONSIBLE COMPANIES

Alliant Energy was recognized as a top-25 company in the energy and utility industry based on a combination of its environmental, social and governance scores. This ranking accounts for the progress made in renewable energy, inclusivity in the workplace and social causes.

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WE ENERGIES CREWS HELPED RESTORE POWER AFTER DESTRUCTIVE STORMS IN CALIFORNIA

Nearly fifty employees from We Energies and its sister company Wisconsin Public Service were sent to California, working to get the lights back on for tens of thousands of people who lost power from a recent series of strong storms. 

The We Energies and WPS crews were part of mutual aid efforts to help Pacific Gas and Electric address outages from storms, flooding and mudslides. The crews loaded their trucks and left Wisconsin Saturday, January 7. Brendan Conway, WEC Energy Group Media Relations Director, reported that as the crew was leaving California after completing their work, they stopped at the scene of an accident and were instrumental in saving a woman's life.

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ATC AWARDS $65,000 TO 18 RECIPIENTS FOR PROJECTS

ATC has collectively awarded $65,000 to 18 recipients across its service area to plant trees and low-growing vegetation through its Community Planting and Pollinator Habitat programs. Now in its 10th year, ATC has given over 300 community awards for these projects totaling more than $625,000.

Vegetation funded through the Community Planting Program requires that communities plant trees outside of high-voltage transmission line rights-of-way. Low growing, compatible vegetation funded through the Pollinator Habitat Program allows entities to cultivate species within the rights-of-way that benefit pollinator food and habitat. Both programs help maintain electric reliability of the transmission system by keeping tall-growing vegetation outside the rights-of-way. Recipients of both programs commit to comply with ATC’s maintenance standards for all current and future planting plans, and urban forestry activities near high-voltage electric transmission lines.

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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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.

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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