New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 16, 2014
13:51 EDTALEAllete unit reaches settlement agreement with EPA
Minnesota Power, a utility division of ALLETE, has reached a settlement agreement with the Environmental Protection Agency and the Minnesota Pollution Control Agency that resolves alleged violations of the New Source Review provisions of the Clean Air Act. The agreement does not include any admission of wrongdoing on the part of the company. The settlement agreement covers Minnesota Power’s Boswell, Laskin, Taconite Harbor and Rapids Energy Centers and includes more stringent emissions limits than in current air permits at all affected units, and the option of refueling, retrofits and retirements at some units. It also includes the addition of 200 megawatts of wind energy. Minnesota Power will also spend $4.2M over the next five years in conservation and clean energy projects benefitting local communities, which could potentially include a forest restoration project, an electric car charging station in northeastern Minnesota and a 1 megawatt solar installation on Fond du Lac Band of Lake Superior Chippewa property. Under the terms of the settlement, the company will also pay a $1.4M civil penalty. In Q2, ALLETE recorded an after-tax expense of $2.5M, or $0.06 per share, to reflect a liability associated with the conservation and clean energy projects. Due to its non-recurring nature, the expense will be excluded from 2014 earnings guidance.
News For ALE From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
December 18, 2014
12:54 EDTALEALLETE subsidiary acquires Storm Lake 1 from NRG Energy for $15M
Subscribe for More Information
December 12, 2014
08:35 EDTALEAllete says FERC approval moves Great Northern Transmission project forward
Minnesota Power, a utility division of ALLETE, said its Great Northern Transmission Line has received another approval. The Federal Energy Regulatory Commission, on November 25, approved a facilities construction agreement required to build this 500-kilovolt, 220-mile line that will run from the Canadian-U.S. border northwest of Roseau, Minn. to an expanded Blackberry electric substation east of Grand Rapids, Minn. The Great Northern Line, under development by Minnesota Power and the Manitoba Hydro subsidiary, has an anticipated in-service date of June 1, 2020.
December 10, 2014
07:56 EDTALEAllete sees FY15 EPS $3.00-$3.20, consensus $3.14
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use