Alliant says it will close the coal-fired Columbia Energy Center by 2024
Posted February 2, 2021Categories: Uncategorized
Now that we have an example of a Wisconsin utility implementing environmental trust bonds, we recommend the strong consideration of securitization or other creative financing tools when a large power plant is shut down. Avoiding rate increases helps our economy overall and helps our manufacturers remain competitive in global markets.
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Waste heat technology ITC
Posted January 6, 2021Categories: Uncategorized
Regulators approve 1-year electricity rate freeze, 4.1% gas increase for MGE customers
Posted November 25, 2020Categories: Uncategorized
We appreciated the transparency and good faith negotiations of the utility. MGE’s electric rates will now remain unchanged through December 31, 2021. There was one provision WIEG specifically requested as it is good for both energy efficiency efforts and economic development. The new customer baseline adjustment for MGE’s New Load Market Pricing tariff (RNL-1) removes a disincentive to businesses undertaking energy efficiency projects and participating in demand response programs.
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Point Beach owner seeks to run Wisconsin’s last nuclear plant for 80 years
Posted November 18, 2020Categories: Uncategorized
Under the agreement, the utility is paying $52.66 per megawatt-hour this year, about 1.8 times the average wholesale price for electricity in the Midwest, according to data from the Energy Information Administration. By 2033, the cost rises to $122.45 per megawatt hour. The utility has agreed to work with consumer advocates and regulators to review the contract, which it cited earlier this year as the driving factor for a rate increase.
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WIEG and CUB applaud PSC vote to refinance $100 million from retired power plant
Posted November 8, 2020Categories: Uncategorized
The PSC granted the request of WEPCO regarding a financing order to authorize environmental trust financing (6630-ET-101). The utility estimates the issuance of environmental trust bonds to securitize $100 million of the remaining investment in environmental controls at Pleasant Prairie will deliver $40 million in customer savings over time. Securitization is in some ways similar to refinancing a mortgage. It’s a process by which a utility replaces relatively high-cost debt and equity, which is charged to electricity customers, with lower-cost debt in the form of securitization bonds. This gives the utility a more favorable bond issue and saves ratepayers money. Securitization of undepreciated costs of Pleasant Prairie was a key part of the 2019 rate case settlement involving WEPCO and negotiated by consumer groups CUB and WIEG (05-UR-109). (more…)
