We Energies Extends Operations of Oak Creek Power Plant Units for Continued Reliability

We Energies Expands Timeline for Oak Creek Power Plant

In a recent announcement, We Energies has declared an extension of operations for units 7 and 8 at the Oak Creek Power Plant. Initially set to retire at the end of 2025, these units will now remain online until at least the end of 2026. This decision was driven by increasing energy demand and tighter supply conditions in the Midwest power market, highlighting the company's commitment to delivering reliable energy to its customers.

This move comes at a crucial time, as national grid experts have been raising alarms about the potential for power shortages and price surges, particularly in the Upper Midwest region. Mike Hooper, the president of We Energies, emphasized the importance of reliability, stating, "Reliability is at the forefront of everything we do. This decision will help us keep the lights on every day and every season."

The decision to prolong the life of these units reflects a careful assessment of current energy demands, particularly during extreme weather conditions. Units 7 and 8, operational since the 1960s and equipped with modern environmental controls, boast a combined capacity of 610 megawatts (MW). The extension will help fulfill the demand during peak periods, ensuring that customers have access to safe, reliable, and affordable energy.

Looking ahead, We Energies is not slowing down its efforts to improve its energy generation capabilities. The company is already in the planning, permitting, or construction phase for more than 6,300 MW of new generation, which includes natural gas, wind, solar, and battery storage projects. The continuation of operations at Oak Creek is not expected to interfere with these ambitious plans.

Currently, We Energies serves over 1.1 million electric customers and an equivalent number of natural gas customers across Wisconsin. As a trade name associated with Wisconsin Electric Power Co. and Wisconsin Gas LLC, subsidiaries of WEC Energy Group Inc. (NYSE: WEC), the company is well-positioned to respond to the state's energy needs. Customers can find more information about We Energies and its initiatives at we-energies.com and WEC Energy Group's site at wecenergygroup.com.

In summary, We Energies' decision to extend the operating life of the Oak Creek units underscores a proactive approach to energy management, considering both immediate customer needs and longer-term sustainability goals. As the demand for power remains at an elevated level, this extension serves as a key strategy in combating potential shortages and ensuring continued reliability in Wisconsin's energy supply.

Conclusion

With the operations at Oak Creek Power Plant units 7 and 8 extended through 2026, We Energies is taking significant steps toward securing energy supply in a rapidly changing market. As both the company and the industry navigate challenges presented by increased demand and supply constraints, their focus on reliable and sustainable energy solutions remains evident, promising a stable power future for Wisconsin.

Forward-Looking Statements

While the outlook appears promising, it is important to note that the company has issued forward-looking statements that are based on current expectations, which could change due to various factors. These include economic conditions, regulatory impacts, and unforeseen events, all of which could influence the company's ability to execute its plans. Stakeholders should remain informed about ongoing developments as We Energies adapts to meet the challenges ahead.