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Madison’s Alliant Energy names senior vice president as the company’s new president

Alliant Energy has named a current company executive as its new president. 

John Larsen became president on Jan. 1, the company announced Monday, December 11, 2017. He has taken over for Patricia Kampling, who will now lead the company as chairwoman and CEO. 

“(Larsen’s) deep experience and strong industry relationships help position Alliant Energy to grow and meet the evolving needs of our customers and communities,” Kampling said. 

Former A.O. Smith CEO Paul Jones exiting WEC Energy board

Retired A.O. Smith Corp. CEO Paul Jones has retired from the WEC Energy Group Inc. board effective Dec. 31, 2017.

Xcel Energy to transfer stock exchange listing to Nasdaq Ticker symbol to remain “XEL”

Xcel Energy announced that it will voluntarily transfer its stock exchange listing from the New York Stock Exchange (NYSE) to the Nasdaq Global Select Market (Nasdaq), effective December 29, 2017 after the market close. Xcel Energy shares are expected to begin trading as a Nasdaq-listed security on January 2, 2018. The company will retain its current ticker symbol “XEL”.

“We are pleased to join the world’s most innovative companies listed on Nasdaq, and to be the first Fortune 500 utility listed on Nasdaq,” said Ben Fowke, chairman, president, CEO, Xcel Energy. “This move is a natural transition for Xcel Energy as the company embraces technology and innovation. We are excited to partner with Nasdaq to leverage cutting-edge technology, trading liquidity, enhanced visibility opportunities and cost efficiencies.” 

 “Nasdaq is proud to be the listing venue of choice for Xcel Energy and a dedicated business partner for the company and its shareholders,” said Adena Friedman, president and CEO, Nasdaq. “As the energy industry evolves, Nasdaq remains committed to supporting innovators like Xcel Energy as they lead the clean energy transition on behalf of customers.”

 

WEC Energy Drops “Interim” From Klappa’s Title In SEC Filing

WEC Energy Group removed the “interim” from the title for CEO Gale Klappa following his appointment as President and CEO after CEO Allen Leverett suffered a stroke several months ago. Leverett, 51, was released from the hospital on October 27th and is receiving speech therapy as he continues his recovery according to a regulatory filing. He retains his title of President which was his title before he was promoted to President and CEO in May, 2016. Klappa is expected to act as CEO until Leverett is able to re-assume his duties.

SOLVAY COKE SITE TO BE READY FOR REDEVELOPMENT IN 2019

We Energies expects to have the large Solvay Coke property in Milwaukee’s Harbor District cleaned and ready for a possible industrial redevelopment in 2019. The 46-acre waterfront property is the largest piece in an envisioned revitalization of Milwaukee’s entire inner harbor area south of the 3rd Ward. Businesses and the city are pushing to make the inner harbor Milwaukee’s next Menomonee Valley, transforming its underused industrial land with new development over several years.

The Harbor District will release its proposed long-range plan for the area, which encourages new public spaces, offices, manufacturing facilities and housing. The area has a history of heavy industrial uses stretching back to the late 1800s. It has left the land contaminated and vacant for years. We Energies bought Solvay Coke in May.

Alliant Energy’s Iowa Company Reaches Partial Settlement on Pending Rate Review

Alliant Energy’s Iowa energy company has filed a proposed partial settlement agreement in its 2017 electric rate review. This agreement creates cost certainty for customers and allows Alliant Energy to continue to advance cleaner energy, to strengthen the reliability of Iowa’s power grid and provide innovative customer solutions.

“This collaborative process with our customer groups and our company created a fair agreement that supports our objective to provide exceptional service to our customers,said Doug Kopp, President of Alliant Energy’s Iowa utility. “I want to thank the Iowa Office of Consumer Advocate, the Iowa Business Energy Coalition and the Large Energy Group for coming together on this agreement.”

On April 3, 2017, Alliant Energy filed its first rate review in six years. An interim base rate increase went into effect ten days later. This agreement increases base rates less than 2 percent above interim rates. Under this agreement, the total increase from this base rate review would be 8.6 percent. Spread over the last six years, this increase would have equated to less than 1.5 percent annually. The final bill impact for each customer class will be decided as part of the rest of the rate review process.

Through the rest of 2017, customers will also continue to receive bill credits related to tax benefits and refunds on transmission expenses to offset the base rate increases and maintain competitive customer costs. In addition, under this agreement Alliant Energy will give more tax-related bill credits to customers in 2018.

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