News

Warner Baxter, the retired Executive Chairman and Chief Executive Officer of Ameren Corp., and John Lange, the retired global head of the Energy and Industrials Groups for Barclays PLC, have been appointed to the board of directors of WEC Energy Group. Their appointments are effective January 1, 2025.

"We're very pleased that Warner and John have agreed to join our board," said Gale Klappa, chairman. "With their extensive experience in the energy sector, they will add significant depth and expertise to a highly engaged and effective board of directors."

Warner Baxter

Baxter spent more than 28 years at Ameren Corp., a Fortune 500 energy company that serves millions of electric and natural gas customers in Illinois and Missouri. He retired last year as executive chairman. He also served as chairman, president and CEO from 2014 to 2021, and previously served as Ameren's president of Ameren Missouri, executive vice president and chief financial officer, and vice president and controller.

Baxter serves on the boards of directors of U.S. Bancorp, Quanta Services, Inc. and several non-profit organizations. He is past Chair of the Edison Electric Institute (EEI) and currently serves on the Edison Foundation Board. He also served as Chair of the Board and on the Executive Committee of the Electric Power Research Institute (EPRI). He earned a Bachelor of Science degree in accounting from the University of Missouri–St. Louis (UMSL). In 2024, Baxter also received an honorary doctorate in business administration from UMSL.

John Lange

Lange retired earlier this year as global head of the Energy and Industrials Groups for Barclays PLC after more than 28 years in investment banking. During his tenure at Barclays, Lange also served on the Investment Banking Management Committee. Before his role at Barclays, Lange led the Global Power M&A Group at Lehman Brothers.

During his career, Lange worked on numerous strategic advisory, M&A, equity, debt and project financing assignments for domestic and international clients across the utility, natural resources and industrial sectors.

Lange received his Bachelor of Arts degree from Bucknell University and his MBA from the Fuqua School of Business at Duke University. Lange served on the EPRI Advisory Council and was co-chair of the Wall Street Advisory Group for EEI.

MGE Energy Declares Regular Dividend

The Board of Directors of MGE Energy has declared the regular quarterly dividend of 45 cents per share on the outstanding shares of the company's common stock, payable December 15, 2024, to shareholders of record at the close of business December 1, 2024.

MGE Energy has increased its dividend annually for the past 49 years and has paid cash dividends for more than 110 years.

WEC Energy Group declares quarterly dividend

The Board of Directors of WEC Energy Group has declared a quarterly cash dividend of 83.50 cents per share on the company's common stock.

The dividend is payable December 1, 2024, to stockholders of record on November 14, 2024. This marks the 329^th consecutive quarter — dating back to 1942 — that the company will have paid a dividend to its stockholders.

The Midcontinent Independent System Operator has set a solar energy generation record high of 6,887 megawatts thanks in part to Alliant Energy’s recent buildout of over 1,000 MW of solar capacity in Wisconsin and Iowa.

Peaking at 1,050 MW of solar generation, Alliant Energy accounted for approximately fifteen percent of the solar energy production in MISO’s multi-state region. The electricity generated by Alliant Energy’s solar sites was enough to power nearly 400,000 average homes for a day.

Madison Gas and Electric is seeking State regulatory approval for the Commercial EV Charging Allowance (CEVCA) program. The program would provide revenue-based allowances for electric vehicle (EV) charging infrastructure at commercial customer sites.

Commercial customers who install EV charging would receive a revenue-based allowance of $300 per kilowatt paid in two installments. If approved, the program is designed to benefit all MGE customers because the incremental load created through increased EV adoption will expand the base through which utility costs are spread.

A proposed $700 million methane gas plant in Superior hit a new road bump, with the plant’s owners now moving to withdraw requests for an air permit for the facility. If the withdrawal is approved and finalized by the Department of Natural Resources (DNR), the proposed Nemadji Trail Energy Center (NTEC) would be required to go through an entirely new permitting and review process. 

The development has forced companies with a stake in NTEC’s construction to re-evaluate the project. “Due to the extended timeline of the federal permit process, the Nemadji Trail Energy Center partners have requested that the Wisconsin DNR revoke the facility’s air permit” according to  Dairyland Power Cooperative spokesperson Katie Thomson. “This is a timing issue. The window of time to construct and commission the facility allowed in the air permit is no longer achievable. Therefore, NTEC has requested the [Wisconsin DNR] revoke the project’s air permit; the project partners will determine when to re-apply based on project planning and permitting.”

Thomson added that NTEC’s owners will continue to work to ensure the project is in compliance with environmental regulations. “Recently, NTEC received its 15th regulatory agency approval, with a positive Federal Consistency Certification from the [Wisconsin Department of Administration]. We look forward to continuing to work in good faith as the approval process continues.”

Since NTEC’s owners are withdrawing their air permit application, a hearing with public testimony scheduled for December 2 will likely be canceled. Ron Binzley, a permitting manager in the DNR’s Bureau of Air Management, said that processing such a request “would not take long, a matter of days at most.” Binzley said in an email to Wisconsin Examiner that if NTEC’s construction permit were also revoked, then the gas plant would not be able to break ground without first submitting a new construction permit application and receiving that permit from the DNR. 

The Institute for Sustainable Infrastructure (ISI) has awarded nine of Alliant Energy’s solar projects with its highest award level – Envision Platinum – for the sustainable development, construction and operation of the facilities.

The nine Wisconsin solar projects total 664 megawatts (MW) and represent the successful execution of Alliant Energy’s Clean Energy Blueprint, a roadmap to diversify its energy resources. All nine projects were placed into service by the end of 2023 as the energy company delivers on its purpose to serve customers and build stronger communities in a safe, cost-effective and reliable manner.

“As we transition to a more diverse energy mix, the sustainable development, construction, and operation of these solar projects will benefit local communities,” according to  David de Leon, President of Alliant Energy’s Wisconsin energy company. “To have some of the first solar projects in the state recognized under this framework showcases us as a leading energy company as we work to fulfill our commitment to generating cleaner energy and building stronger communities.”

As the U.S. transitions away from fossil fuels at a faster pace than many people realize, Wisconsin has invested most in solar power compared to other clean energy technologies, a new report by a leading climate change science organization has found.

Climate Central, a nonprofit group led by a team of scientists, analyzed each state's public and private spending on clean energy since 2018 using data from the Clean Investment Monitor, a joint project of Rhodium Group and the Massachusetts Institute of Technology's Center for Energy and Environmental Policy Research. In total, the nation spent nearly $248 billion in 2023, triple what it spent in 2018.

That includes $6 billion spent in Wisconsin, the majority of it invested in solar energy. The state is an outlier among its neighbors in the upper Midwest, most of whom invested more heavily in electric vehicles. And it's in the middle of the pack nationally for how much it spent overall on clean energy technologies.

When Beau Stafford started Wiscovery Farm in 2019, he never thought that five years later he’d become the first to graze sheep at a Dane County solar site. The Fitchburg farm started small with garden compost and small hay bales, and eventually got to the point where Stafford wanted to expand into livestock.

“Originally, I figured, ‘Maybe we’ll get some beef cattle, and they’d graze about in our pasture land,’” Stafford recalled. “Then, all of a sudden, we get a flier in the mail.”

The flier was about a public engagement meeting for a solar site planned near his farm Stafford went to an open house to talk with developers about concerns related to what they’d plant at the facility and how it might impact his farm. The conversation eventually turned to the idea of grazing sheep at the solar site. Stafford said that conversation got the wheels turning in his mind.

“As a kid, I helped raise lambs for the fair with my neighbor and I thought, ‘Well, I have experience raising sheep, not running a flock, but at least individual sheep,’” he said. “We have young kids, and we thought, ‘Maybe that would be a better route to go for livestock rather than doing cows or beef, because they’re pretty big and for little kids it’s not great.’"

Xcel Energy has named Todd Wehner as the company’s Treasurer and Vice President. Paul Johnson will continue to serve the company as Vice President, Treasury and Investor Relations.

"Todd is a proven financial leader who has demonstrated an ability to identify opportunities, develop strategies and deliver results," according to Bob Frenzel, Xcel Energy’s Chairman, President and CEO. "His extensive treasury and utility experience, as well as previous experience in strategic management and capital markets, will serve Xcel Energy’s customers well."

In his role, Wehner will ensure Xcel Energy’s financial stability and success by managing the funding of the company’s capital investment, as well as managing the cash function, insurance process, investment activities, capital structure and providing support in regulatory proceedings. The company’s ability to cost-effectively raise capital for its grid and energy investments will benefit its customers with long-term, lower cost energy. 

"Xcel Energy is at the forefront of leading a clean energy transition, and I see an  exciting opportunity to work within the complexity of its multiple operating  companies across diverse states," Wehner said. "My father was a career lineworker who strove to deliver electricity to customers despite inclement weather and adverse operating conditions. I have always seen a career in the  utility sector as a noble undertaking that serves our communities with the energy they depend on."

Wehner served as assistant treasurer at Michigan-based CMS Energy where he optimized the company’s capital structure and relationship with equity and debt providers and credit rating agencies. Prior, he held investment banking roles at Morgan Stanley and Barclays focused on the global utilities and chemicals  industries. Wehner began his career serving as a U.S. Air Force officer both  domestically and in Iraq. Wehner earned master’s degrees from the University of Michigan in sustainable systems and business administration, as well as bachelor of science degrees from Michigan Technological University in electrical and mechanical engineering. 

Alliant Energy Announces Second Quarter 2024 Results

Alliant Energy has announced U.S. generally accepted accounting principles (GAAP) and non-GAAP consolidated unaudited earnings per share (EPS) for the three months ended June 30.

“We are pleased with the outcome of the settlement in our Iowa rate review and confident about the positive impact it will have promoting load growth while delivering consistent earnings and ensuring base rate stability for our customers,” said Lisa Barton, Alliant Energy President and CEO. “Excluding

timing of income taxes, which will reverse by year-end, and temperature impacts, our ongoing results for the first half of 2024 were in line with our expectations.

Through regulatory progress and strong economic growth with data centers, we believe we are positioned to achieve our long-term growth objectives.”

MGE Energy Increases Dividend for the 49th Consecutive Year

The Board of Directors of MGE Energy has increased the regular quarterly dividend rate by 5.3 percent to $0.45 per share on the outstanding shares of the company’s common stock.

The dividend was payable September 15, 2024, to shareholders of record September 1, 2024. This raises the annualized dividend rate by 9 cents from $1.71 per share to $1.80 per share.

“MGE Energy continues to focus on its mission to provide safe, reliable, affordable and sustainable energy and to provide value to our customers and shareholders,” according to Chairman, President and CEO Jeff Keebler. “This action by our board reinforces our commitment to regular, predictable and sustainable dividend growth, and it signals the continued strength and resilience of MGE Energy’s long-term business strategy for building your community energy company for the future.”

MGE Energy has increased its dividend annually for the past 49 years and has paid cash dividends for more than 110 years.