This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Minnesota Power Resource Study Informs Long-Term Energy Planning Process

Minnesota Power, a division of ALLETE (NYSE: ALE), today filed a study with the Minnesota Public Utilities Commission that examines how pending EPA regulations, predicted regional energy growth and customer cost impacts will play key roles in how the company will provide reliable and affordable electric power in the future.

“The base load diversification report is another important step in our continuous long-range planning process,” said Allan Rudeck Jr., Vice President of Minnesota Power Strategy and Planning. “Over the next five to seven years, Minnesota Power will be making decisions that have long-term consequences for the supply and cost of electric power. Minnesota Power is committed to maintaining an ongoing dialogue with our stakeholders throughout all stages of resource planning.”

The study examines the cost and reliability impacts of retiring or continuing to operate Minnesota Power’s Laskin Energy Center, Taconite Harbor Energy Center and Boswell Energy Center (in Hoyt Lakes, Schroeder, and Cohasset, Minn., respectively) coal-fired facilities through 2034 amidst a range of proposed EPA regulations.

The study provides perspective on the impact that stricter EPA regulations would have on the future of some of the company’s base load generation. The intent of the study was to consider a range of planning scenarios and explore potential impacts, not to draw any hard conclusions on the future of the company’s plants. The information will be used to help shape Minnesota Power’s next round of long-term planning, which will be detailed in its next resource plan in the summer of 2013.

Among the study’s key findings:

  1. Minnesota Power’s environmental investments in recent years have resulted in significant benefits at reasonable cost. Costs of anticipated controls to meet new EPA requirements impact Minnesota Power’s smaller and oldest units the most.
  2. Investments at the company’s largest unit, Boswell 4, are showing environmental and economic benefits for customers for the long-term planning period.
  3. Coal based generation shutdowns would carry significant costs to customers, including those associated with transitioning to new energy supply options.

Rudeck noted that the timing of the study aligns with the company’s long term resource strategy of reliably and cost effectively meeting customer needs while reshaping its portfolio to reduce emissions. Minnesota Power is developing a more diverse, flexible and efficient energy supply through additional renewables, such as wind and hydropower, and is on course to achieve a more balanced coal, non-coal energy mix.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,010.68 -115.44 -0.64%
S&P 500 2,107.39 -13.40 -0.63%
NASDAQ 5,070.0260 -27.95 -0.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs