Nov
27
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PUBLIC SERVICE COMMISSION DENIES EV CHARGING SUBSIDIES BUT ALLOWS FOR POLLUTION CONTROL RECOVERY
Category: Voice Newsletter
Nov
27
The Public Service Commission approved the first rate increases in four years for We Energies and Wisconsin Public Service of Green Bay, both subsidiaries of WEC Energy Group. Along with adjustments for fuel costs and provisions of a settlement agreement approved earlier this month, about 1.1 million We Energies customers can expect rates to increase by about 0.66 percent in 2020. Rates are expected to increase by about 1.6 percent for about 442,000 WPS customers. The PSC separately approved modest rate decreases for Madison Gas and Electric and Alliant Energy to account for lower-than-expected natural gas prices. Average residential customers of MGE can expect to save about 54 cents on their monthly electric bills in 2020, while the typical residential customer of Alliant will save about $1.58 per month. As part of the WEC rate cases, the commission ruled that neither utility can use ratepayer money to subsidize home charging stations for electric vehicles. The utilities had sought to spend up to $10 million to offer $1,000 rebates for customers who install the equipment as part of a two-year pilot program in which participants would pay time of use rates for charging their vehicles.
Brendan Conway, a spokesman for WE Energies had this to say about the PSC decision, “Working with the commission and customer and business groups, our rate proposal protects customers and allows us to continue on a path to a cleaner energy future that is safe, reliable and affordable. We appreciate the feedback from the commission on our EV proposal and will continue to work with them and other stakeholders on this emerging technology.”
Nov
27
Maria C. Green has joined the board of directors of WEC Energy Group following her election in July.
“We’re delighted that Maria has agreed to serve as a director,” said Gale Klappa, executive chairman. “Her remarkable background in corporate and civic leadership is a perfect fit for an already strong and engaged board of directors.”
Green, 65, retired in June as senior vice president and general counsel for Ingersoll Rand after a 35-year career in law and business. She was responsible for management and oversight of the company’s legal group and a trusted legal and strategic adviser to the company’s chairman and CEO. Prior to joining Ingersoll Rand in 2015, Green served as senior vice president, general counsel and secretary for Illinois Tool Works in Glenview, Illinois.
Green has a bachelor’s degree in Sociology and Economics from the University of Pennsylvania and a law degree from Boston University. A member of the Chicago Urban League executive committee, Green served as chairman from 2015 to 2017
Nov
27
Nov
27
Xcel Energy has reported 2019 third quarter GAAP and ongoing earnings of $527 million, or $1.01 per share, compared with $491 million, or $0.96 per share in the same period in 2018. Earnings reflect higher electric margins primarily due to non-fuel riders, regulatory rate outcomes and lower O&M expenses, partially offset by lower AFUDC, increased depreciation, and interest expenses.
“Xcel Energy achieved solid quarterly results and as a result we have narrowed our expected earnings to the upper half of our 2019 guidance range. In addition we have issued 2020 earnings guidance of $2.73 to $2.83 per share, which is consistent with our 5-7% growth objective,” said Ben Fowke, chairman, president and CEO of Xcel Energy.
“We have planned capital investments of $22 billion in the next five years to continue our clean energy transition, expand our renewable portfolio and enhance and protect service reliability. These investments will deliver economic and environmental benefits for our shareholders, customers and stakeholders while supporting our drive to achieve an 80 percent reduction in carbon emissions by 2030.”
Nov
27
WEC Energy Group has reported net income of $234.3 million, or 74 cents per share for the third quarter of 2019. This compares to earnings of $233.2 million, or 74 cents per share for last year’s third quarter. For the first nine months of 2019, the company recorded net income of $890.1 million, or $2.81 per share — up from $854.3 million, or $2.70 per share, in the corresponding period a year ago. Consolidated revenues for the third quarter and nine months ended September 30, 2019, were $1.6 billion and $5.6 billion, respectively, both level with the comparable periods in 2018. “We delivered a solid third quarter despite summer temperatures that were cooler than last year and destructive July storms — including nine tornadoes — that caused extensive damage to our distribution network,” said Gale Klappa, Executive Chairman.
Nov
27
Alliant Energy Corporation has announced U.S. generally accepted accounting principles (GAAP) and non-GAAP consolidated unaudited earnings per share (EPS) for the three months ended September 30 as follows:
“As we advance our commitment to cleaner energy and affordable customer options, we are investing in renewable energy and distribution system enhancements,” said John Larsen, Alliant Energy Chairman, President and CEO. “We raised our 2019 earnings guidance to a range of $2.27 to $2.33 per share, largely due to the benefits of weather during the first nine months of this year. I am also pleased to share that our Board of Directors has approved a 7 percent increase to our annual common stock dividend target, raising it to $1.52 per share for 2020.”
Oct
18
BEFORE THE PUBLIC SERVICE COMMISSION OF WISCONSIN
Joint Application of Wisconsin Electric Power Company and Wisconsin Gas LLC for Authority
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Oct
10
The Wade House and Carriage Museum in Greenbush, Wisconsin, was the setting for a record number of utility investors at the 2019 Wisconsin Utility Investors Annual Meeting of Members. During a brief business meeting, two-term board member Trudy Popenhagen stepped down and former Xcel Energy Regulatory Executive, Donald Reck, was elected to serve on the WUI Board of Directors. Following the annual business meeting, members learned about overall trends in the utility industry as well as the large scale solar and wind technology projects which are currently underway.
The WUI Board of Directors wishes to thank our excellent guest speakers, Attorney Andrew Hanson, Senior Counsel of Perkins Coie LLP who spoke about large scale utility solar, Commissioner Ellen Nowak of the Wisconsin Public Service Commission who spoke about energy policy and issues, and government relations representatives Elise Nelson from Alliant Energy, Matthew Pagel from Xcel Energy, and Chris LaRowe and Joel Haubrich of WEC Energy Group, who updated the membership about their respective company progress and initiatives. Members were also able to meet with shareholder representatives from MGE Energy, Alliant Energy, Xcel Energy and WEC Energy Group.
At the conclusion of the meeting, Curator Jim Willaert, introduced the membership to the Carriage Museum and sent them on their way to enjoy the historic site; including a working sawmill, blacksmith shop and Wade House Carriage stop via horse drawn carriage rides. We apologize to the members who were not able to enjoy a carriage ride due to the overwhelming response to the opportunity.
Please visit our new website at www.wuiinc.org for all the current news on the Energy industry and Wisconsin Utility projects. The WUI Board of Directors appreciates your feedback and support. To that end, WUI will continue to hold meetings at historical and otherwise engaging Wisconsin locations.
A new opportunity to join WUI with a “Lifetime Membership” was introduced at this year’s annual meeting. With a Lifetime Membership, yearly dues of $15 will be a thing of the past, though Annual Memberships are still available.
Membership information is available from the WUI Website, and dues may now be paid by credit card.
Oct
10
WEC Energy Group has announced that the company has agreed to acquire an eighty percent ownership interest in Thunderhead Wind Energy Center. The project is being developed in Antelope and Wheeler counties, Nebraska, by Invenergy — a leading developer and operator of sustainable energy solutions. Commercial operation is expected to begin by the end of 2020.
The wind farm has a long-term offtake agreement with a Fortune 100 company for 100 percent of the energy produced.
The Thunderhead site will consist of 108 GE wind turbines with a combined capacity of 300 megawatts. WEC Energy Group’s investment will total $338 million for the 80 percent ownership interest.
“This investment fits exceptionally well with our strategy of deploying capital in renewable energy assets that will serve strong, vibrant companies for years to come,” said Gale Klappa, executive chairman of WEC Energy Group.
Under the tax rules, the WEC Energy Group investment is expected to be eligible for 100 percent bonus depreciation and production tax credits. The transaction is subject to receiving all necessary regulatory approvals.
Oct
10
Residential electricity use dropped by 8.9 percent, and electricity consumption by small commercial and industrial customers was 5.2 percent lower. Electricity use by large commercial and industrial customers — excluding the iron ore mine — was down by 4.1 percent during the second quarter of 2019 compared to the same period last year.
WEC Energy has reported net income of $235.7 million, or 74 cents per share for the second quarter of 2019 — up from $231 million, or 73 cents per share for the second quarter last year.
For the first six months of 2019, the company recorded net income of $655.8 million, or $2.07 per share — up from $621.1 million, or $1.96 per share in the corresponding period a year ago. Consolidated revenues totaled $4.0 billion for the first six months of 2019, flat compared to revenues for the first half of 2018.
“Our focus on financial discipline and operating efficiency were major factors driving our positive results — despite very mild weather in this year’s second quarter,” said Gale Klappa, Executive Chairman. Retail deliveries of electricity — excluding the iron ore mine in Michigan’s Upper Peninsula — were down by 5.9 percent in the second quarter of 2019, compared to the second quarter of 2018.
On a weather-normal basis, retail deliveries of electricity during the second quarter of this year — excluding the iron ore mine — decreased by 1.6 percent. Second quarter natural gas deliveries in Wisconsin, excluding gas used for power generation, fell by 2.9 percent. On a weather-normal basis, natural gas deliveries rose by 0.7 percent. At the end of June, the company was serving approximately 11,000 more electric customers and 23,000 more natural gas customers than at the same time a year ago.The company is raising its earnings guidance for 2019 to a range of $3.50 to $3.53 per share with an expectation of reaching the top end of the range. This assumes normal weather for the remainder of the year.
Oct
10
Lyft and Madison Gas and Electric (MGE) are partnering to increase the use of electric vehicle (EV) ridesharing in Madison and grow awareness of the benefits of EVs. The two companies will offer a $500 bonus to Madison-area EV drivers who sign up to drive with Lyft. “This program is a unique opportunity for Madison-area residents to ride in an EV and experience what they have to offer,” said Debbie Branson, MGE Manager of Electrification. “EVs offer convenience— for example, with EVs, there are no oil changes or trips to the gas station. They cost less to fuel and maintain than gas-powered vehicles, and they are fun to drive.” Visit mge.com/Lyft to learn more.
Oct
10
Alliant Energy has been chosen for the annual list of the Top Utilities in Economic Development. Site Selection magazine provided the recognition based on the company’s contribution to the local economies and communities
in its service area.
“We’re proud to be recognized for our efforts to bring investment, growth and job creation to the communities we serve,” said Terry Kouba, President of Alliant Energy’s Iowa energy company. “We appreciate our local, regional and state economic development partners. Together, we can provide growth that brings value to our customers, communities and new and expanding businesses.”
Oct
10
Alliant Energy has completed the implosion of the remaining structures of the company’s Marshaltown Iowa Sutherland Generating Station (SGS). The demolition was carried out by Bierlein Companies from Midland, Michigan, and Dykon Blasting Corporation of Tulsa, Oklahoma.
The 1950s-era coal-fired facility ceased operations in June 2017 following the construction of the nearby Marshalltown Generating Station (MGS). MGS is a 706-megawatt natural gas-fired facility and is one of the most efficient natural gas power plants in the nation. Its construction complements Alliant Energy’s renewable energy expansion. As a result of investments in wind and solar energy, Alliant Energy will have the ability to provide cleaner energy for more than 600,000 Iowa homes.
Oct
10
Both Madison Gas and Electric and Alliant Energy say they support Governor Evers’ executive order setting a carbon-free
electricity goal for 2050. Annemarie Newman with Alliant Energy says the company is encouraged by the order. Alliant had previously set a goal to reduce carbon emissions by 80 percent by 2050. “The question now is, how can we do more sooner?”, she said.
With the announcement happening so recently, those details are still being hammered out. Madison Gas and Electric already had a goal of net-zero carbon emissions by 2050. They say they welcomed the executive order. “We share the vision of a cleaner energy future and look forward to working with the Governor and state regulators to advance strategies to achieve MGE’s goal of net-zero carbon electricity by 2050.”
Oct
10
Wisconsin utility regulators granted final approval September 26th for a controversial power line while rebuffing conflict of interest charges from opponents of the nearly $500 million project. At a meeting interrupted by protesters, the Public Service
Commission voted unanimously to authorize construction of the Cardinal-Hickory Creek line between Dubuque and Middleton in a written order summarizing points the three commissioners agreed to during a hearing in August.
Oct
10
Alliant Energy has announced its earnings per share (EPS) for the three months ended June 30 as
follows:
2019 2018
Utilities and Corporate Services . . . . . . . . . . . . . . . . . . . . . . . . $0.38. . . . . . . . . . . . . . . . .$0.41
American Transmission Company (ATC) Holdings . . . . . . . . . . 0.03. . . . . . . . . . . . . . . . . .0.03
Non-utility and Parent. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (0.01). . . . . . . . . . . . . . . . .(0.01)
Alliant Energy Consolidated . . . . . . . . . . . . . . . . . . . . . . . . . . . $0.40. . . . . . . . . . . . . . . . .$0.43
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Sep
03
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Please take a moment to fill out this brief survey, Your feedback is greatly appreciated.
Your responses to this survey will be compiled with all member responses and will not be attributed to your name nor will your personal information be shared with outside sources.
Aug
20
Xcel Energy has reported 2019 second quarter GAAP and ongoing earnings of $238 million, or $0.46 per share, compared with $265 million or $0.52 per share in the same period in 2018.
Earnings reflect higher electric and natural gas margins primarily due to non-fuel riders and regulatory rate outcomes, more than offset by 5 cents per share of unfavorable weather, increased depreciation, interest and operating and maintenance expenses.
“Despite the milder than normal weather in the second quarter, Xcel Energy’s year-to-date earnings are on track, and we are well-positioned to deliver earnings within our guidance range for the year,” said Ben Fowke, chairman, president and CEO of Xcel Energy.
“I am pleased that we have filed our Upper Midwest Resource Plan, which is another significant step forward in our industry leading drive to reduce carbon emissions while ensuring reliability and affordability,” said Fowke. “This plan achieves an 80% reduction in carbon emissions in the region by 2030, through the early retirement of the remaining coal units in the Upper Midwest, by substantially growing the amount of renewables on our system and adding new firm peaking resources to ensure continued reliability. This plan is a key stepping stone toward the company achieving its vision to provide customers 100% carbon-free electricity by 2050.”
“Despite the milder than normal weather in the second quarter, Xcel Energy’s year-to-date earnings are on track, and we are well-positioned to deliver earnings within our guidance range for the year,” said Ben Fowke, chairman, president and CEO of Xcel Energy.
“I am pleased that we have filed our Upper Midwest Resource Plan, which is another significant step forward in our industry leading drive to reduce carbon emissions while ensuring reliability and affordability,” said Fowke. “This plan achieves an 80% reduction in carbon emissions in the region by 2030, through the early retirement of the remaining coal units in the Upper Midwest, by substantially growing the amount of renewables on our system and adding new firm peaking resources to ensure continued reliability. This plan is a key stepping stone toward the company achieving its vision to provide customers 100% carbon-free electricity by 2050.”
Aug
20
Alliant Energy has released its Corporate Sustainability Report. The report outlines Alliant Energy’s continuing efforts to meet the ever-changing needs of their customers in an affordable, safe, reliable and sustainable way.
“Our world is changing – and so are we,” said Alliant Energy Chairman, President and CEO John Larsen. “We’re listening
to our customers, employees and key stakeholders and continuing to evolve how we do business. Every day, our work is focused on enhancing the environmental, social and economic conditions of the communities we have the honor to serve.”
Alliant Energy has been transitioning toward cleaner energy for more than a decade. Between 2016 and 2020, the company expects to spend approximately $2 billion on new company-owned wind generation. By the end of 2020, Alliant Energy will own 12 wind farms with the capacity to power nearly 600,000 homes. This equals the energy
needed to power about 60% of the company’s residential customer base.
Alliant Energy is targeting a 40% reduction in carbon emissions below 2005 levels by 2030 and an 80% reduction by
2050. Last year, the company was among the first utilities to state that it plans to eliminate all existing coal from its
energy mix by 2050.
“Our world is changing – and so are we,” said Alliant Energy Chairman, President and CEO John Larsen. “We’re listening
to our customers, employees and key stakeholders and continuing to evolve how we do business. Every day, our work is focused on enhancing the environmental, social and economic conditions of the communities we have the honor to serve.”
Alliant Energy has been transitioning toward cleaner energy for more than a decade. Between 2016 and 2020, the company expects to spend approximately $2 billion on new company-owned wind generation. By the end of 2020, Alliant Energy will own 12 wind farms with the capacity to power nearly 600,000 homes. This equals the energy
needed to power about 60% of the company’s residential customer base.
Alliant Energy is targeting a 40% reduction in carbon emissions below 2005 levels by 2030 and an 80% reduction by
2050. Last year, the company was among the first utilities to state that it plans to eliminate all existing coal from its
energy mix by 2050.
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Phone | (608) 663-5813
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