Wisconsin Energy spikes planned U.P. power plant sale
Milwaukee-based Wisconsin Energy Corp. and subsidiary Wisconsin Electric Power Co. have decided not to sell their Presque Isle Power Plant and Michigan electric distribution assets to Green Bay-based Upper Peninsula Power Co. as planned.
Wisconsin Energy agreed in January to sell the plant and distribution rights to gain approval from Michigan stakeholders for its plan to acquire Chicago-based Integrys Energy Group for $9.1 billion. The agreement was made with the Michigan governor, the Michigan attorney general, the staff of the Michigan Public Service Commission and the Tilden Mining Company and Iron Mining Partnership “to resolve all objections these parties raised at the Federal Energy Regulatory Commission and the MPSC” to the acquisition.
But in a filing March 12, Wisconsin Energy said it would not sell the plant as long as both iron ore mines remain customers of Wisconsin Electric, until either a new clean generation plan in the UP begins operations or until December 31, 2019. The company entered into a special contract with the mines to provide them with service through 2019.
The Michigan stakeholders agreed that the new plan satisfies applicable requirements under Michigan law, and should be approved by the MPSC.
The sale of the Presque Isle plant would have created a standalone electric utility in the Upper Peninsula, allowing Michigan to plan for longer-term power generation options in that area of the state. Under the new agreement, Wisconsin Energy has committed to invest or have a separate Michigan utility it creates invest in the new clean generation plant in the UP.
Wisconsin Energy’s proposed merger with Integrys would serve more than 4.3 million electric and natural gas customers in Wisconsin, Illinois, Michigan and Minnesota. It also would operate almost 71,000 miles of power lines and natural gas lines. If approved by regulators, it is expected to close in the second half of the year.
MMAC economic indicators remain strong
Economic growth continues in southeastern Wisconsin as a majority of the local economic indicators tracked by the Metropolitan Milwaukee Association of Commerce pointed upward in January.
Sixteen of 23 available monthly indicators improved over year-ago levels, matching December’s 16 upward pointing indicators.
“Metro Milwaukee’s economy remains on a solid foundation as we get our first look at the 2015 trend,” said Bret Mayborne, the MMAC’s economic research director. “Job growth continues in the metro area, albeit at a slower rate than originally thought, with most major industry sectors contributing to the overall gain.”
Nonfarm employment in the metro area rose at a 0.9 percent pace in January, (versus January 2014). January’s gain marks an improvement from the revised 0.4 percent increase posted in December and marks the 52nd consecutive month of year-over-year job increases.
Six of 10 major industry sectors posted year-over-year job gains in January with the other services sector registering the largest year-over-year gain, up 4.8 percent. Conversely, among the four major industry decliners, the steepest job decrease was posted in the leisure & hospitality sector, down 6.5 percent.
ZBB invents battery that stores solar energy
Menomonee Falls-based ZBB Energy Corp., a developer of energy management systems solutions serving the utility, commercial and industrial building markets, announced the introduction of a breakthrough ZnBr flow battery specifically designed for behind-the-meter energy storage applications in the commercial and industrial building market.
The Agile Flow Battery has been engineered based upon ZBB’s flow battery design expertise, its breadth of real world application data derived from dozens of installations and stringent lab testing at ZBB and Meineng Energy, ZBB’s China joint venture company.
The Agile Flow Battery enables a large amount of energy to be deployed from a relatively small “footprint” within a building, for applications requiring up to eight hours of discharged energy.
The distributed energy generation market for commercial and industrial buildings is in the early stages of what is predicted to be phenomenal growth. While implementation of solar PV is now common in many regions, the implementation of energy storage into the distributed generation system is in its nascent stage and can enable the owner of the building to perform many more applications that can both reduce electricity expense and generate cash for the stakeholders.
The building owner can utilize the Agile Flow Battery to consume hours’ worth of energy stored during low rate time periods for use during high rate time periods.
Johnson Controls awarded $8.6 million Navy contract
Glendale-based Johnson Controls Inc. has been awarded an $8.6 million contract from the U.S. Navy to do energy savings performance work at Joint Base Pearl Harbor-Hickam near Honolulu.
The contract is guaranteed to save the Navy $14.8 million over the next 15 years, according to Steve Spanbauer, global director of federal solutions for Johnson Controls.
Johnson Controls will put in new, upgraded infrastructure at the Navy base, including LED lighting and rooftop air conditioning units.
The project will pay for itself in energy savings, in addition to resulting in a reduction in energy and greenhouse gas emissions, Spanbauer said.
Johnson Controls is in the beginning stages of construction. The installation period is expected to take 13 months.
Actuant earnings fall on strong dollar, weak end markets
Menomonee Falls-based Actuant Corp. reported a second quarter net loss of $64.8 million, or $1.05 lost per share, in the second quarter, compared with net income of $41.4 million, or 56 cents per share, in the second quarter of 2014.
The global industrial firm’s quarterly operating loss was $56.4 million, compared with operating profit of $39 million in the same period a year ago.
Revenue was $301 million in the quarter, down from $327.8 million in the second quarter of 2014.
Actuant took an $84.4 million impairment charge during the quarter related to adverse conditions in upstream oil & gas markets. It also saw a $10.1 million loss in cash during the quarter as a result of the effect of exchange rate changes.
OneJet adds Milwaukee to Indianapolis flight
OneJet has announced it will offer nonstop service from Milwaukee to Indianapolis beginning April 6.
The airline has been working with several stakeholders to meet demand for nonstop flights at lower costs throughout the eastern U.S. for the past several years, and this service is the first phase of its roll out of the Indianapolis-based program.
OneJet will offer the Milwaukee-Indianapolis flight, which takes one hour gate-to-gate and will be operated by Pentastar Aviation Charter Inc., Monday through Thursday. It will offer TSA precheck for eligible travelers, expedited boarding and complimentary on-board amenities.
Tickets for the Milwaukee-Indianapolis route are now on sale for select corporate and online retailers, including American Express Global Business Travel and Expedia.
