News

MGE Energy has commenced an underwritten public offering of $250,000,000 of shares of its common stock, subject to market and other conditions. Of the $250,000,000 of shares of common stock being offered, MGE Energy expects to issue and sell directly approximately $75,000,000 of shares to the underwriters in the offering, and the forward sellers expect to borrow from third parties and sell to such underwriters approximately $175,000,000 of shares of common stock in connection with the forward sale agreements. In conjunction with the offering, MGE Energy intends to grant the underwriters a 30-day option to purchase up to $37,500,000 of additional shares of its common stock. If such option is exercised, MGE Energy may enter into additional forward sale agreements with the forward purchasers with respect to such additional shares or issue and sell such shares directly to the underwriters.

The Bent Tree North Wind project in Freeborn County, Minnesota is moving forward, according to Alliant Energy. The energy company recently received unanimous approvals to construct a 150-megawatt (MW) wind project that will be built adjacent to the company’s existing 200-megawatt (MW) Bent Tree wind farm.  

The approvals, from the Minnesota Public Utilities Commission (PUC) and the Public Service Commission of Wisconsin (PSC), follow a comprehensive review of the project’s benefits. 

“Unanimous approvals in Wisconsin and Minnesota reflect strong regulatory confidence in this project and the value it brings to communities as a whole,” according to Becky Valcq, President of Alliant Energy’s Wisconsin Energy Company. “Approval of the Bent Tree North Wind project marks an important step as Alliant Energy continues to build a balanced energy portfolio that includes both renewable and traditional resources to meet customer demand.” 

Xcel Energy is strengthening its energy grid with new electric generation and infrastructure to adapt to a rapidly evolving energy landscape, the company has announced in its 21^st annual Sustainability Report.

Xcel Energy’s investments in a diverse and increasingly carbon-free energy portfolio aim to deliver reliable, low-cost energy service for all its customers during a time of significant growth in demand from data centers, vehicle charging, electrified home heating, natural gas development and other areas of the economy that spur growth. As it grows the capacity and resilience of the grid, the company has reduced carbon emissions from the electricity it provides to customers 58 percent from 2005 levels.

“For more than 150 years, Xcel Energy has energized communities and built brighter futures,” according to Bob Frenzel, Chairman, President and Chief Executive Officer of Xcel Energy. “Today, the increasing trend toward electrification is reshaping how we live, work and power our world. We are meeting this moment through advanced technology, disciplined investment and a steadfast commitment to reliability, affordability and sustainability.”

Xcel Energy’s carbon reduction progress comes as it navigates higher resource costs, supply chain constraints and a dynamic public policy environment, while keeping affordability for customers at the forefront. Since 2007, it has retired or converted 27 coal units without layoffs — and, consistent with state‑approved plans, is working to retire or convert its remaining units by the end of 2030. Electrification of a portion of the company’s fleet vehicles has prevented 700 metric tons of carbon emissions.

In addition, the company has reduced its water use related to the electricity it provides by 35 percent since 2005. Meanwhile, Xcel Energy outperforms the industry reliability standard, restoring 89 percent of affected customers’ power within 24 hours during active storm days, and has an overall electric service reliability of 99.98 percent.

Tech giant Oracle is suing the Public Service Commission of Wisconsin over financial requirements for data centers as work is underway on its $15 billion campus in Port Washington.

The tech giant’s subsidiary has filed the lawsuit in Ozaukee County Circuit Court. Milwaukee-based utility We Energies, Vantage Data Centers and Cloverleaf Infrastructure are separately asking the PSC to revisit financial requirements regulators approved in April to protect ratepayers.

Oracle is asking a judge to reverse the commission’s financial provisions and order the PSC to approve financial support requirements proposed by We Energies. Oracle’s subsidiary said it could spend more than $100 million each year under the decision by utility regulators.

“The Commission’s modifications to Wisconsin Electric’s proposed Financial Support Requirements will create harmful and unintended consequences that will force significant investment outside of Wisconsin. The cost of posting the required security will deter investment in the state from many firms, who will likely pursue opportunities in other jurisdictions,” the filing states.

A PSC spokesperson said the commission doesn’t comment on pending litigation, and each commissioner is reviewing the petition filed by We Energies and others.

Alliant Energy Corporation has announced that Phillip Smith will join Alliant Energy as Chief Information Officer (CIO). 

“We are pleased to welcome Phillip to Alliant Energy,” according to Lisa Barton, President and CEO of Alliant Energy. “As we power progress and continue to grow alongside our customers, Phillip brings the experience to help us move at their pace—advancing our technology capabilities in ways that are practical, secure and cost effective. His leadership will strengthen reliability; enhance the experiences we deliver and support responsible growth for the customers and communities we serve. 

“In this role, Smith will set the vision and lead Alliant Energy’s information technology efforts to improve cost effectiveness, customer service, cybersecurity and operational excellence. He will develop and execute technology plans that deliver high‑quality, value‑driven solutions across enterprise systems and operational technology. Smith will oversee IT infrastructure, application lifecycles and digital transformation programs, partnering with business and operations leaders to strengthen system resilience and create long‑term value for customers and communities”. 

Xcel Energy has filed a proposal with the Public Service Commission of Wisconsin establishing transparent rules ensuring that any new large electric customers pay 100 percent of the cost needed to serve them. If approved as filed, Xcel Energy’s proposal would ensure that these potential customers, including any new large data centers, would not raise the bills of any of the company’s current or future customers.

“We recognize the growing energy needs of large customers, including data centers, and the important role they play in driving economic growth and innovation in Wisconsin. At the same time, it’s critical that growth is managed in a way that does not raise the rates of customers and supports the communities we serve,” according to Karl Hoesly, President of Xcel Energy—Wisconsin and Michigan. “Together, these provisions establish firm and transparent eligibility rules and long‑term commitments that allows any necessary infrastructure to be planned and built responsibly.”

The proposal would apply to new customers or significant load expansions of 100 megawatts (MW) or greater and includes multiple safeguards to protect existing and future customers:

• Long‑term commitments: New large electric customers would be subject to binding 15-year commitments, supported by strong financial security provisions to ensure long-term benefits for communities.
• Exit fees: If a customer ends operations early, all remaining costs will be recovered. 
• Minimum monthly payments: Will be required for these customers.  

The proposal provides transparency while supporting good-paying construction and skilled-trade jobs necessary to build and maintain new electric infrastructure according to labor and community leaders.

“These large projects need to create real value for Wisconsin workers and Wisconsin communities,” according to Robb Kahl, Executive Director, Construction Business Group. “That means good-paying union jobs, strong local hiring and infrastructure investment and ongoing costs that are paid for by these large energy users — not shifted onto working families. Done right, this means more jobs, more economic activity and a stronger tax base. Xcel Energy’s proposal helps make sure these projects are done right.”

Xcel Energy has reported 2026 first quarter GAAP earnings of $556 million, or $0.89 per share, compared with $483 million, or $0.84 per share in the same period in 2025, and ongoing earnings of $567 million, or $0.91 per share compared with $483 million or $0.84 per share in the same period in 2025.

Despite the impact of unseasonably warm weather in the first quarter, ongoing earnings reflect increased recovery of electric infrastructure investments and electric sales growth, partially offset by higher financing costs and increased depreciation expense.

“At Xcel Energy, we continue to make energy work better for our customers and our past quarter showcased our keen focus on execution and delivering on our plans to strengthen and modernize the grid, expand our energy sources, and deploy innovative technologies to ensure that energy remains safe, reliable, and affordable,” said Bob Frenzel, Chairman, President and CEO of Xcel Energy.

“Our data center agreement in the Upper Midwest with Google in the quarter sets a high bar for ongoing community development and investment for data centers – protecting residential bills, advancing sustainability goals, and preserving precious water resources in the local community. Our partnership with Google took a strong step forward in the quarter, and we look forward to advancing more projects in the near future.”

WEC Energy Group has reported net income of $804.4 million, or $2.45 per share, for the first quarter of 2026 — up from $724.2 million, or $2.27 per share, for last year's first quarter.

Consolidated revenues totaled $3.4 billion, up $284.7 million from the first quarter a year ago.

"The continued execution of our capital plan and focus on operating efficiencies led to solid first-quarter results," said Scott Lauber, President and CEO. "As we build for a growing economy, we remain committed to delivering reliable, safe energy to the customers and communities we serve."

Retail deliveries of electricity — excluding the iron ore mine in Michigan's Upper Peninsula — were up by 1.1 percent in the first quarter of 2026, compared to the first quarter last year.

Electricity consumption by small commercial and industrial customers was 0.7 percent higher. Electricity use by large commercial and industrial customers — excluding the iron ore mine — increased by 2.7 percent.

Residential electricity use rose by 0.2 percent.

On a weather-normal basis, retail deliveries of electricity — excluding the iron ore mine — increased by 1.3 percent.

For the quarter, natural gas deliveries in Wisconsin — excluding natural gas used for power generation — decreased by 3.5 percent compared to the first quarter of 2025. On a weather normal basis, these natural gas deliveries were 2.1 percent lower.

The company is reaffirming its 2026 earnings guidance of $5.51 to $5.61 per share. This assumes normal weather for the remainder of the year.

The Bent Tree North Wind project in Freeborn County, Minnesota, is moving forward, announces Alliant Energy. The energy company recently received unanimous approvals to construct a 150-megawatt (MW) wind project that will be built adjacent to the company’s existing 200-megawatt (MW) Bent Tree wind farm.  

The approvals, from the Minnesota Public Utilities Commission (PUC) and the Public Service Commission of Wisconsin (PSC), follow a comprehensive review of the project’s benefits. 

“Unanimous approvals in Wisconsin and Minnesota reflect strong regulatory confidence in this project and the value it brings to communities as a whole,” according to Becky Valcq, President of Alliant Energy’s Wisconsin Energy Company. “Approval of the Bent Tree North Wind project marks an important step as Alliant Energy continues to build a balanced energy portfolio that includes both renewable and traditional resources to meet customer demand.” 

Xcel Energy will start constructing a new natural gas peaking plant this summer to support grid reliability, delivering service to customers when renewable energy in southwest Minnesota isn’t available and at times of peak demand, after receiving approvals from the Minnesota Public Utilities Commission.

The 420-megawatt Lyon County Generating Station, to be located near Garvin in Lyon County, will play a critical role in supplying reliable power to the grid during periods when wind and solar energy are not available and when the hottest and coldest temperatures of the year drive energy use up. Peaking plants do not continuously generate energy at full capacity; instead, they operate for a small portion of the year based on the needs of the grid. The energy they provide supports Xcel Energy’s larger plan to retire its remaining coal plants by the end of 2030 while keeping the grid reliable.