BLOG

WEC ENERGY LOOKS TO EMERGING STORAGE TECHNOLOGY AS IT BUILDS OUT RENEWABLES

WEC Energy Group executives say the Wisconsin-based utility holding company will lead a test of a new type of long-duration energy storage at its 266.6MW Valley natural gas plant in Milwaukee. The nonprofit Electric Power Research Institute and German manufacturer CMBlu Energy AG will use the site to run a flow battery made with components from abundant, recyclable materials. The battery will be tested for discharge durations of up to 10 hours, starting in the fourth quarter of 2023. "We believe it can store energy for up to twice as long as the typical batteries in use today," Gale Klappa, WEC's Executive Chairman, said during a Feb. 2 earnings call. "We plan to launch the project at our Valley Power Plant near downtown Milwaukee in the fourth quarter of this year when temperatures turn cold. The results will be shared in early 2024 across the industry.

"These batteries are expected to provide safe and reliable operation, with a high energy density that will enable compact solutions for a variety of applications for electric utilities," the company said in its news release. WEC is yet another U.S. utility searching for reliability solutions to replace fossil fuel generation with billions of dollars worth of new intermittent wind and solar plants over the decade. WEC is also partnering with the EPRI on a hydrogen project. Citing the availability of new U.S. tax credits for renewable energy projects, WEC in late 2022 announced a revised five-year capital plan of $20.1 billion. It will allocate $7.3 billion to building up to 3,300 MW in new wind, solar and storage projects as it retires its coal capacity by 2035.”

Klappa said the company expects the five-year investment plan to drive compound earnings growth of 6.5 percent to seven percent per year over the period 2023 through 2027.

WEC ENERGY GROUP TO ACQUIRE EIGHTY PERCENT STAKE IN TEXAS SOLAR PROJECT

WEC Energy Group has announced an agreement to acquire an eighty percent ownership in a large solar project in Texas. 
The company says it will be spending about $250 million on the Samson I Solar Energy Center, located about 140 miles northeast of Dallas. The facility began commercial operation in May 2022 and is currently covered by a long-term power purchase agreement with AT&T, according to a release. 

“The Samson Solar project is an exciting addition to our Infrastructure business and highlights our continued investment in affordable, reliable and clean energy,” WEC Energy Group Executive Chairman Gale Klappa said in a statement. “This project will help one of the world’s largest telecommunications companies meet their clean energy needs for years to come.” 

Read More

XCEL ENERGY AND BAYIELD COUNTY PARTNER TO BUILD FIRST MICROGRID

Xcel Energy and Bayfield County have signed an agreement to partner to construct Wisconsin’s first microgrid under an innovative new utility program. Through Xcel Energy’s EMPOWER Resiliency program, Bayfield County in far northern Wisconsin, will build a microgrid to enhance the county’s emergency services and response system, ensuring it is capable of operating in the event of a utility outage without interruption.

Xcel Energy was the first utility in Wisconsin to begin offering a comprehensive program to support microgrids and other resiliency projects for large business customers and governmental entities who require a higher than standard service reliability. The program is designed to be technology agnostic and allows customers to choose resiliency options to best meet their needs. 

Read More

WISCONSIN GOVERNER'S PROPOSED 2023 BUDGET CONTAINS MANY UTILITY AND ENERGY RELATED ITEMS

Governor Evers' 2023 budget contains many utility related items below, if you have questions please contact WUI. 
  • Provides $10 million for “clean energy” job training and reemployment programs.
  • Requires the Public Service Commission to establish the social cost of carbon and requires the commission to consider the social cost of carbon when evaluating utility construction applications.
  • Allows utilities to securitize the entire remaining unpaid balance of a retiring power plant. Currently, only the unpaid balance of pollution control equipment may be securitized.
  • Establishes the Office of Environmental Justice to, in part, perform a climate risk assessment and create a resilience plan for state agencies.
  • Requires municipal comprehensive plans, local hazard mitigation plans and community health assessments to address the impact of climate change.
  • Provides $5 million GPR over the biennium to support a clean energy small business incubator.
  • Establishes the Office of Sustainability and Clean Energy and creates a one-time $4 million GPR clean energy grant program.
  • Provides $500,000 SEG over the biennium to create a biodigester planning grant program.
  • Creates a sales and use tax exemption for property used primarily to store or facilitate the storage of energy produced by a solar, wind, or biogas renewable energy system for an anticipated reduction in tax revenue of $4.2 million over the biennium.
  • Establishes a workgroup to develop a “stretch energy code” for Wisconsin.

It is likely many of these items will be removed or modified by the Legislature when it receives the Budget Bill.

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. 

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.

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



Read More

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.

Read More

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.

Read More

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.

Read More

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.

Read More

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.

Read More

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.

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.

Read More

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.