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  • 1 Jul 2024 3:21 PM | Michelle Lancaster (Administrator)

    WEC Energy Group has announced the pricing of $750,000,000 in aggregate principal amount of its 4.375% convertible senior notes due 2027 (the "2027 convertible notes") and $750,000,000 in aggregate principal amount of its 4.375% convertible senior notes due 2029 (the "2029 convertible notes") and, together with the 2027 convertible notes, the "convertible notes" in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). In addition, WEC Energy Group granted the initial purchasers of the convertible notes an option to purchase, within a 13-day period beginning on, and including, the date the convertible notes are first issued, up to an additional $112,500,000 in aggregate principal amount of the 2027 convertible notes and up to an additional $112,500,000 in aggregate principal amount of the 2029 convertible notes. The offering closed on May 28, 2024, subject to customary closing conditions.

    The convertible notes will be senior, unsecured obligations of WEC Energy Group. Interest on the convertible notes will be paid semiannually, at a rate of 4.375% per annum (in the case of the 2027 convertible notes) and at a rate of 4.375% per annum (in the case of the 2029 convertible notes). The convertible notes will mature on June 1, 2027 (in the case of the 2027 convertible notes) and June 1, 2029 (in the case of the 2029 convertible notes), unless earlier converted or repurchased in accordance with their terms or (in the case of the 2029 convertible notes) redeemed by WEC Energy Group. 

  • 1 Jul 2024 10:42 AM | Michelle Lancaster (Administrator)

    Xcel Energy has named Rob Berntsen as the company’s Executive Vice President and Chief Legal and Compliance Officer. Berntsen takes over the role from Amanda Rome, who held the position on an interim basis while also serving in her role as executive vice president, group president – utilities and chief customer officer.

    “With two decades’ experience working in the energy sector, Rob is well suited to guide us forward as we lead the nation’s transition to a clean energy economy,” said Bob Frenzel, Xcel Energy’s chairman, president, and CEO. “Rob’s sound legal counsel and commercial acumen will be key as we strive to deliver safe, reliable and affordable service to our customers.”

    Berntsen will oversee Xcel Energy’s legal, compliance and corporate secretary and securities teams.

    “The landscape of the energy sector is shifting rapidly,” Berntsen said. “In joining Xcel Energy, I am excited to help the company navigate a host of legal and compliance considerations as it continues to lead the clean energy transition.”

    Most recently, Berntsen served as senior vice president, chief of staff and general counsel at BHE Renewables, a Berkshire Hathaway Energy business that develops, owns, and operates solar, wind, geothermal and hydroelectric power plants. Prior to that, Berntsen worked for MidAmerican Energy Company, where he led the utility’s legal, regulatory, rates, government affairs, compliance, and energy efficiency groups. In addition, Berntsen has held leadership roles with the Midcontinent Independent System Operator Inc. (MISO) and the Iowa Utilities Board.

    A veteran, Berntsen served as a captain in the Judge Advocate General (JAG) Corps, the legal arm of the U.S. Army and deployed to Iraq in 2005 in support of Operation Iraqi Freedom.

    Berntsen earned his juris doctor degree from the University of Iowa and a Bachelor of Science degree from Georgetown University.

  • 1 Jul 2024 10:26 AM | Michelle Lancaster (Administrator)

    MGE Energy Declares Regular Dividend

    The Board of Directors of MGE Energy, has declared the regular quarterly dividend of $0.4275 per share on the outstanding shares of the company's common stock, which was payable June 15, 2024, to shareholders of record at the close of business June 1, 2024.

    MGE Energy has increased its dividend annually for the past 48 years and has paid cash dividends for more than 110 years.

    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 54.75 cents per share. The dividends are payable July 20, 2024, to shareholders of record on June 14, 2024.

    Xcel Energy is a major U.S. electricity and natural gas company, with operations in 8 Western and Midwestern states.

  • 1 Jul 2024 10:17 AM | Michelle Lancaster (Administrator)

    Regen Fiber, Fairfax, Iowa, has hosted an opening ceremony and commenced production at the end-of-life wind turbine blade recycling facility at its Fairfax headquarters. The facility has the potential to create an end market for wind turbine scrap while also creating recycled content solution for concrete and asphalt producers.

    Owned by Travero (Fairfax), a subsidiary of Alliant Energy, Regen Fiber announced the launch of an eco-friendly wind blade recycling process in 2023. The company noted that rather than burning blades or burying them in landfills, its process shreds the blades, extracts usable components and transforms them into premium products that are used in construction materials, such as concrete, avoiding use of heat or chemicals. 

  • 1 Jul 2024 9:43 AM | Michelle Lancaster (Administrator)

    A new partnership has given Fareway Stores access to the benefits of solar power as Alliant Energy placed the one-megawatt Fareway Solar Field into service. The project consists of nearly 2,000 solar panels at the grocery chain's distribution center in the Boone Iowa Industrial Park.

    The energy company will own, operate and maintain the Fareway Solar Field as part of the 
    Alliant Energy Customer-Hosted Renewables program. The site will generate renewable energy for all Alliant Energy customers and renewable energy credits for Fareway to offset a portion of its carbon emissions.

    “This project is a terrific addition to our distribution center campus here in Boone,” according to  Pat Goldsmith, Fareway’s Vice President of Facilities and Projects. “Partnering with Alliant Energy on the production of clean energy for years into the future is a great extension of our company legacy.”

  • 1 Jul 2024 9:30 AM | Michelle Lancaster (Administrator)

    At WEC Energy Group's annual meeting of stockholders, Gale Klappa, Executive Chairman, and Scott Lauber, President and CEO, highlighted another strong year on virtually every meaningful measure — from customer satisfaction, to financial performance, to steady execution of the company's capital plan. They also emphasized that it was a year of growth and dedication to the company's mission of delivering affordable, reliable and clean energy to millions of customers across the Midwest.

    Company highlights

    Developed the largest five-year capital plan in company history — including nearly 3,800 megawatts of new renewable capacity to serve the customers of We Energies and Wisconsin Public Service.

    Completed the largest solar project in Wisconsin history as the final panels at the Badger Hollow Solar Park in southwestern Wisconsin went in service at the end of 2023.

    Brought 128 megawatts of new highly efficient and flexible natural gas generation online.

    Completed the construction of two liquefied natural gas facilities to support the company's power generation and gas distribution systems.

    Introduced renewable natural gas (RNG) into the company's distribution network. The RNG replaces a portion of the conventional natural gas that would have entered the system. This effort contributes to WEC Energy Group's methane reduction goal and benefits the land and water of America's heartland.

    Spent a record $333.7 million with certified minority-, women-, veteran- and service-disabled-owned businesses.

    Returned a record $984 million to WEC Energy Group stockholders through dividends.

    Increased the dividend level in January 2024 by 7% to an annual rate of $3.34 per share. This marks the 21st consecutive year of higher dividends.

    In 2024, selected by Standard and Poor's for inclusion in the High Yield Dividend Aristocrats Index.

    Also in 2024, selected by Standard and Poor's for inclusion in the High Yield Dividend Aristocrats Index.

  • 26 Jun 2024 2:33 PM | Michelle Lancaster (Administrator)

    Xcel Energy has reduced carbon emissions fifty-four percent from the electricity it provides to customers from 2005 levels, the company announced in its 19th annual Sustainability Report.

    Xcel Energy was the first U.S. energy provider to set aggressive goals to reduce carbon emissions from electricity, heating and transportation. The company’s 2018 goal aims to provide customers with 100 percent carbon-free electricity by 2050 and reduce carbon emissions from its operations eighty percent from 2005 levels by 2030. The report shows carbon-free energy made up fifty percent of the company’s 2023 energy mix, compared to an average of forty-one percent nationwide. Over the same time span, the company cut air emissions of sulfur dioxide from its power plants by eighty-three percent and nitrogen oxides by eighty-five percent.

    “Xcel Energy remains at the forefront of the clean energy transition,” said Bob Frenzel, chairman, president and chief executive officer of Xcel Energy. “Our progress in this historic transition thus far is a testament to the hard work and commitment of our employees to innovate and deliver on strategies and approaches that drive clean energy solutions.”

  • 31 May 2024 8:33 AM | Anonymous

    We Energies and Wisconsin Public Service — both owned by WEC Energy Group — have filed applications with the Public Service Commission of Wisconsin to increase electric and gas rates in 2025 and 2026.

    We Energies hopes to increase electric rates by 6.9 percent in 2025 and 4.6 percent in 2026, according to the utility’s application with the PSC. It also requested increases for both of the gas utilities it owns. One of the gas utilities would increase rates by 10 percent next year and 5.1 percent by 2026. The other asked to increase rates by 8.2 percent in 2025 and 3.6 percent in 2026. We Energies’ steam utility in downtown Milwaukee also asked for an 8.4 percent rate hike in 2025 but no increase in 2026.

    Meanwhile, Wisconsin Public Service is requesting an 8.5 percent electric rate increase in 2025 and a 4.9 percent increase in 2026, according to the utility’s application. WPS also requested gas rate increases of 6.8 percent next year and 3.9 percent in 2026.

    The rate increases need approval from the Wisconsin public Service Commission after review and potential modification.

  • 31 May 2024 8:31 AM | Anonymous

    Xcel Energy, Central Minnesota Municipal Power Agency, Great River Energy, Missouri River Energy Services and Otter Tail Power Company will upgrade nearly 100 miles of transmission line in Minnesota and eastern South Dakota, allowing the companies and other energy providers to deliver more low-cost renewable energy to customers throughout the Upper Midwest while saving customers millions of dollars a year.

    This week, the Minnesota Public Utilities Commission approved the installation of a second high-voltage circuit on two segments of the existing Brookings County-Hampton transmission line. One segment of new circuit will run between Brookings, South Dakota, and Marshall, Minnesota, while the other will run between Scott and Dakota counties in Minnesota. Xcel Energy will start construction beginning in South Dakota this month.

    “This project will bring low-cost renewable energy to millions of homes and businesses, supporting Xcel Energy’s clean energy vision and Minnesota’s 2040 carbon-free law,” said Ryan Long, president, Xcel Energy-Minnesota, North Dakota and South Dakota. “We thank the Commission and other parties for recognizing the value of this project, which uses existing infrastructure to decrease congestion on our transmission system while limiting the impact to landowners in the area.”

    This transmission project will have far-reaching congestion relief benefits. It will provide additional capacity, allowing more low-cost generation from southwest Minnesota and eastern South Dakota to reach customers throughout the region. Wind energy does not have any fuel costs and contributes to a diversified energy mix which helps protect against rising fuel prices and saves customers money.

    Most of the proposed project will not require changes to the existing transmission line route which began operation in 2015 as part of the CapX2020 project, a joint project with several energy providers. At that time, the MPUC and CapX2020 companies agreed there would likely be a need for new transmission in the future. As a result, the project team constructed the middle portion of the line between Lyon and Scott counties with two circuits and built the western and eastern segments as “double circuit capable.” This allowed the companies to meet customers’ energy needs at the time while anticipating growing demand and wind generation in the future.

  • 31 May 2024 8:31 AM | Anonymous

    Alliant Energy, with four Grinnell community partners, has broken ground on multiple solar projects that will total 5 megawatts at the new Grinnell Solar Park on the west side of the city. Alliant Energy will own, operate and maintain the Grinnell Solar Park as part of its Alliant Energy Customer-Hosted Renewables program.

    “This new solar park showcases the benefits of renewable energy and a new source of reliable energy for the community,” according to Amanda Accola, Senior Key Account Manager for Alliant Energy. “We’re appreciative of the forward-looking partners that made these four projects possible.”

    The four community partners will each have their own solar projects nestled within the park. The City of Grinnell and Grinnell College will both have 2-MW projects. Mayflower Community and Ahrens Park Foundation will have a 625-kilowatt (kW) and a 375-kW facility, respectively.

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