Minnesota Public Utilities Commission

Otter Tail Power Company receives Minnesota Public Utilities Commission approval on Integrated Resource Plan

Retrieved on: 
Venerdì, Maggio 31, 2024
Energy, Other Energy, Utilities, Carbon, Integrated Resource Plan, Minnesota Public Utilities Commission, LIUNA, ADP, Wind, Public utilities commission, Docket, Public Service Commission, Regional Council, Otter Tail Corporation, Hearing

Yesterday the Minnesota Public Utilities Commission (MPUC) approved Otter Tail Power’s, a wholly-owned subsidiary of Otter Tail Corporation (Nasdaq: OTTR), resource plan containing many elements of the settlement between Otter Tail Power and other parties filed April 2, 2024, in the company’s 2022-2036 Integrated Resource Plan docket.

Key Points: 
  • Yesterday the Minnesota Public Utilities Commission (MPUC) approved Otter Tail Power’s, a wholly-owned subsidiary of Otter Tail Corporation (Nasdaq: OTTR), resource plan containing many elements of the settlement between Otter Tail Power and other parties filed April 2, 2024, in the company’s 2022-2036 Integrated Resource Plan docket.
  • Allows Otter Tail Power to retain the reliability benefits of Coyote Station while running the portion of the plant used to serve the company’s Minnesota customers for emergency purposes only.
  • At that time, the company’s Minnesota customers will no longer use the capacity of or energy from Coyote Station.
  • The South Dakota Public Utilities Commission doesn’t have a project preapproval process, so Otter Tail Power is not awaiting any related decisions in that state.

ALLETE, Inc. reports first quarter 2024 earnings

Retrieved on: 
Giovedì, Maggio 9, 2024
Green Technology, Energy, Environment, Other Energy, Utilities, Diamond, Corporation, Sale, GAAP, Minnesota Public Utilities Commission, Weather, Investment, Security (finance), Power, Wind, Income tax, Light, Inflation, Bank statement, Renewable energy

ALLETE, Inc. (NYSE: ALE) today reported first quarter 2024 earnings of 88 cents per share on net income of $50.7 million.

Key Points: 
  • ALLETE, Inc. (NYSE: ALE) today reported first quarter 2024 earnings of 88 cents per share on net income of $50.7 million.
  • Last year’s first quarter results were $1.02 per share on net income of $58.2 million.
  • ALLETE Clean Energy recorded first quarter 2024 net income of $3.8 million compared to $8.5 million in 2023.
  • New Energy's financial results were as expected in the first quarter of 2024.

Otter Tail Corporation Announces First Quarter Earnings and Increases 2024 Annual Earnings Guidance

Retrieved on: 
Lunedì, Maggio 6, 2024
Manufacturing, Other Manufacturing, Energy, Utilities, Chemicals, Plastics, Minnesota Public Utilities Commission, Investment, Weather, MacFarlane, Otter Tail Corporation, Public expenditure, Integrated Resource Plan, Wind, Plastic, Electricity, Commerce

Otter Tail Corporation (Nasdaq: OTTR) today announced financial results for the quarter ended March 31, 2024.

Key Points: 
  • Otter Tail Corporation (Nasdaq: OTTR) today announced financial results for the quarter ended March 31, 2024.
  • Diluted earnings per share increased 19% to $1.77 per share compared to the first quarter of 2023.
  • Midpoint of 2024 earnings guidance increased 21% to $6.38 per share.
  • As of March 31, 2024, we had $170.0 million and $160.9 million of available liquidity under our Otter Tail Corporation and Otter Tail Power Credit Agreements, respectively, along with $238.2 million of available cash and cash equivalents, for total available liquidity of $569.1 million.

ALLETE Enters Agreement to be Acquired by a Partnership Led by Canada Pension Plan Investment Board and Global Infrastructure Partners to Advance ‘Sustainability-in-Action’ Strategy

Retrieved on: 
Lunedì, Maggio 6, 2024
Professional Services, Other Energy, Utilities, Alternative Energy, Energy, Finance, Slate, Sale, Organization, Workforce, Global Infrastructure Partners, Minnesota Public Utilities Commission, Investment, Safety, CPP, Federal Energy Regulatory Commission, Partnership, FERC, SWL, Carbon, Growth, Wind, Culture, Public Service Commission, Family, Utility, Light, Acquisition, Community, GIP, CPP Investment Board, Renewable energy

ALLETE is a leading energy company and provider of safe, reliable, and competitively priced energy with a national footprint.

Key Points: 
  • ALLETE is a leading energy company and provider of safe, reliable, and competitively priced energy with a national footprint.
  • CPP Investments and GIP are premier, well-resourced infrastructure investors at a global scale with deep industry expertise and long-term outlooks.
  • Together, they bring over four decades of experience investing in large-scale infrastructure businesses across sectors to support sustainable, long-term growth.
  • In light of the announced transaction with CPP Investments and GIP, ALLETE will be cancelling its scheduled earnings conference call.

Minnesota Power Reaches Electric Rate Settlement With State Agencies and Large Power Customers

Retrieved on: 
Venerdì, Maggio 3, 2024
Oil, Gas, Energy, State, Local, Public Policy, Government, Utilities, Small business, Minnesota Public Utilities Commission, Investment, Regulation, Security (finance), Communication, Carbon, Light, Commerce, Workforce, Quality of life

Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), has reached a settlement agreement on its 2024 electric rate proposal with the Minnesota Department of Commerce, Minnesota Attorney General’s Office and Large Power Intervenors.

Key Points: 
  • Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), has reached a settlement agreement on its 2024 electric rate proposal with the Minnesota Department of Commerce, Minnesota Attorney General’s Office and Large Power Intervenors.
  • If approved by the Minnesota Public Utilities Commission (MPUC), the agreement would set final rate increases of about 4.9% for residential and small business customers and about 4.4% for industrial and large commercial customers.
  • It also would set Minnesota Power’s return on equity at 9.78% and allow cost recovery outside a rate case for certain environmental costs and capacity purchases.
  • “We appreciate the willingness of our regulatory agencies and large power customers to work collaboratively to reach a mutually beneficial settlement agreement and find common ground for setting new rates for the electric utility,” said Jennifer Cady, Minnesota Power vice president of Regulatory and Legislative Affairs.

Avisen Legal Welcomes Attorneys Ingrid Bjorklund and Edward R. Culhane to Its Team

Retrieved on: 
Martedì, Marzo 12, 2024
Minnesota Public Utilities Commission, General counsel, Wind, Renewable energy, Private practice, Intellectual property, Government, Culhane, Biofuel

MINNEAPOLIS, March 12, 2024 /PRNewswire/ -- Avisen Legal, based in Minneapolis, MN, is pleased to announce the addition of two distinguished attorneys to its team: Ingrid Bjorklund and Edward R. Culhane. With their arrival, Avisen Legal has strengthened its capacity to deliver renewable energy and sophisticated transactional legal services to clients in Minnesota and across the country.

Key Points: 
  • MINNEAPOLIS, March 12, 2024 /PRNewswire/ -- Avisen Legal, based in Minneapolis, MN, is pleased to announce the addition of two distinguished attorneys to its team: Ingrid Bjorklund and Edward R. Culhane.
  • With their arrival, Avisen Legal has strengthened its capacity to deliver renewable energy and sophisticated transactional legal services to clients in Minnesota and across the country.
  • Edward R. Culhane joins Avisen Legal with a wealth of experience in transactional law and business management.
  • "We are thrilled that Ed and Ingrid have joined us," said Todd Taylor, one of Avisen Legal's founding attorneys.

Minnesota Power advances EnergyForward with request for proposals for up to 400 megawatts of wind energy

Retrieved on: 
Giovedì, Febbraio 15, 2024
Other Energy, Utilities, Environment, Alternative Energy, Green Technology, Energy, Environmental Health, Inflation, Climate, Request for proposal, Quality of life, Minnesota Public Utilities Commission, Carbon, RFP, Light, Security (finance), Solar energy, Integrated Resource Plan, Wind, Renewable energy

Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), has issued a Request for Proposals (RFP) for up to 400 megawatts of wind energy to come online by the end of 2027, an important milestone in advancing its EnergyForward vision for 100% carbon-free energy.

Key Points: 
  • Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), has issued a Request for Proposals (RFP) for up to 400 megawatts of wind energy to come online by the end of 2027, an important milestone in advancing its EnergyForward vision for 100% carbon-free energy.
  • The RFP follows Minnesota Power’s 2021 Integrated Resource Plan approved by the Minnesota Public Utilities Commission, which calls for the company to acquire up to 300 megawatts of solar energy that is being evaluated in a separate RFP and 400 megawatts of wind generation.
  • The company currently delivers more than 50% renewable energy to its 150,000 retail customers.
  • An independent third-party evaluator will help Minnesota Power screen and review proposals.

Energy experts warn electric grid may not be ready for a severe winter

Retrieved on: 
Lunedì, Novembre 13, 2023
Cooperative, Risk, Weather, Minnesota Public Utilities Commission, American Electric, NERC, Electricity, Renewable energy

“This report is a serious reminder that decisions we make today will impact our power reliability tomorrow," Darrick Moe, CEO of the Minnesota Rural Electric Association said.

Key Points: 
  • “This report is a serious reminder that decisions we make today will impact our power reliability tomorrow," Darrick Moe, CEO of the Minnesota Rural Electric Association said.
  • “According to the report, a large portion of the continent, including Minnesota, is at risk in the winter months if the weather is severe.
  • Traditionally the power grid faces its greatest challenges during a few peak hours each year, but that is changing as the industry transitions to new sources of energy.
  • Now, the report details, supply challenges can arise over more circumstances in both summer and winter months.

Minnesota Power Advances EnergyForward with Request for Proposals for up to 300 Megawatts of Solar Energy

Retrieved on: 
Mercoledì, Novembre 15, 2023
Other Energy, Utilities, Environment, Alternative Energy, Green Technology, Energy, Environmental Health, NYSE, Minnesota Public Utilities Commission, Security (finance), RFP, Wind, Request for proposal, Integrated Resource Plan, Quality of life, Renewable energy

Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), took an important step in advancing its EnergyForward vision for 100% carbon-free energy with the issuance of a Request for Proposals (RFP) for up to 300 megawatts of regional solar energy to come online by 2027.

Key Points: 
  • Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), took an important step in advancing its EnergyForward vision for 100% carbon-free energy with the issuance of a Request for Proposals (RFP) for up to 300 megawatts of regional solar energy to come online by 2027.
  • The RFP follows Minnesota Power’s 2021 Integrated Resource Plan approved by the Minnesota Public Utilities Commission, which calls for the company to acquire up to 300 megawatts of regional solar generation capacity.
  • The procurement of solar through this RFP will increase Minnesota Power’s solar portfolio by tenfold and provide customers with renewable energy that will help the company and state meet carbon-free goals in the coming decades.
  • “As we demonstrated with our three recent regional solar projects, this RFP reflects our commitment to creating opportunities for our communities during the clean-energy transformation,” said Minnesota Power Chief Operating Officer Josh Skelton.

DOE Awards $50 Million to Minnesota Power to Increase Reliability and Resilience of Region’s Transmission Grid in Support of a Clean-Energy Future

Retrieved on: 
Mercoledì, Ottobre 18, 2023
Environment, Climate Change, Contracts, Environmental Policy, Other Energy, Utilities, Sustainability, Alternative Energy, Energy, Defense, 89th Minnesota Legislature, U.S. Department of Energy, Office of Inspector General, Ageing, Security (finance), NYSE, Minnesota Public Utilities Commission, AC, Electric Bond and Share Company v. Securities and Exchange Commission, Wind, Electricity, Brattle Group, Quality of life, DNV, DOE, Use of Free and Open-Source Software (FOSS) in the U.S. Department of Defense, Minnesota Legislature, Electric power, Renewable energy, HVDC

“Investments in transmission are critical to the reliability and resiliency of the grid as we continue to build a carbon-free energy future and advance Minnesota Power’s EnergyForward strategy,” said Bethany Owen, ALLETE CEO.

Key Points: 
  • “Investments in transmission are critical to the reliability and resiliency of the grid as we continue to build a carbon-free energy future and advance Minnesota Power’s EnergyForward strategy,” said Bethany Owen, ALLETE CEO.
  • Commissioned in 1977, the HVDC transmission system has served Minnesota Power well in its more than four decades of operation.
  • Minnesota Power acquired the HVDC line in 2009 to reliably deliver nearly 500 megawatts of wind energy from its North Dakota wind sites to its customers in Minnesota.
  • Minnesota Power’s HVDC transmission line is one of only a handful of existing long-distance HVDC lines in the country.