Sunday, January 17States Top Leading News (STL.News)

Tag: wec energy group

WEC Energy Group reports third-quarter 2020 financial results
Business

WEC Energy Group reports third-quarter 2020 financial results

MILWAUKEE, WI (STL.News) WEC Energy Group (NYSE: WEC) today reported net income of $266.8 million, or 84 cents per share, for the third quarter of 2020 — up from $234.3 million, or 74 cents per share, for last year's third quarter. For the first nine months of 2020, the company recorded net income of $960.9 million, or $3.04 per share — up from $890.1 million, or $2.81 per share, in the corresponding period a year ago. Consolidated revenues totaled $1.7 billion for the third quarter of 2020 and $5.3 billion for the first nine months.  Third-quarter revenues were up $43.0 million compared to the same quarter in 2019, while year-to-date revenues were down $267.3 million compared to the prior year. "A rebound in economic activity, warmer summer weather and efficiency gains throughout our o...
WEC Energy Group reports first-quarter results
Business

WEC Energy Group reports first-quarter results

MILWAUKEE, WI (STL.News) WEC Energy Group (NYSE: WEC) today reported net income of $452.5 million, or $1.43 per share, for the first quarter of 2020 – up from $420.1 million, or $1.33 per share, for the first quarter of 2019. Consolidated revenues totaled $2.1 billion, down $268.8 million from last year's first quarter. "We delivered another solid quarter, despite mild winter temperatures and an economic downturn that began in late March as businesses closed to slow the spread of COVID-19," said Gale Klappa, executive chairman.  "In the months ahead, we will continue to focus on employee safety and on executing the fundamentals of our business – world-class reliability, customer satisfaction and financial discipline."  He added, "Our team is experienced and resilient.  I'm confident we'l...
WEC Energy Group to acquire 80% ownership in Thunderhead Wind Energy Center
Business

WEC Energy Group to acquire 80% ownership in Thunderhead Wind Energy Center

MILWAUKEE, WI (STL.News) - WEC Energy Group (NYSE: WEC) today announced that the company has agreed to acquire an 80% ownership interest in Thunderhead Wind Energy Center.  The project is being developed in Antelope and Wheeler counties, Nebraska by Invenergy -- a leading developer and operator of sustainable energy solutions. Commercial operation is expected to begin by the end of 2020. The wind farm has a long-term offtake agreement with a Fortune 100 company for 100% of the energy produced. The Thunderhead site will consist of 108 GE wind turbines with a combined capacity of 300 megawatts. WEC Energy Group's investment will total $338 million for the 80% ownership interest. "This investment fits exceptionally well with our strategy of deploying capital in renewable energy assets that...
Business News: WEC Energy Group declares quarterly dividend
Business

Business News: WEC Energy Group declares quarterly dividend

MILWAUKEE, WI (STL.News) - The board of directors of WEC Energy Group (NYSE: WEC) today declared a quarterly cash dividend of 59 cents per share on the company's common stock. The dividend is payable Sept. 1, 2019, to stockholders of record on Aug. 14, 2019. This marks the 308th consecutive quarter – dating back to 1942 – that the company will have paid a dividend to its stockholders.
Business News: WEC Energy Group report details pathway to cleaner energy future
Business

Business News: WEC Energy Group report details pathway to cleaner energy future

MILWAUKEE, WI (STL.News)- WEC Energy Group unveiled a report on the company's strategy to reduce costs to customers, preserve fuel diversity and reduce carbon emissions through changes to its generation fleet. The report – "Pathway to a Cleaner Energy Future" – illustrates the approach WEC Energy Group is taking to reduce emissions and presents a wide-ranging analysis of factors that will help shape future decision-making. "At this pivotal time in the energy industry, we have made it a priority to reduce greenhouse gas emissions while maintaining a reliable, resilient and cost-effective energy system for our customers," said Gale Klappa, executive chairman – WEC Energy Group. The company's long-term strategy reflects its focus on environmental stewardship.  In 2016, WEC Energy Group set...