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Profile: ALLETE Inc (AEBA.F)

AEBA.F on Frankfurt Stock Exchange

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17 Aug 2018
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ALLETE, Inc., incorporated on January 25, 1906, is an energy company. The Company's segments include Regulated Operations, ALLETE Clean Energy, Inc. (ALLETE Clean Energy), U.S. Water Services Holding Company (U.S. Water Services), and Corporate and Other. The Regulated Operations segment includes its regulated utilities, Minnesota Power, and Superior Water, Light and Power Company (SWL&P), as well as its investment in American Transmission Company LLC (ATC), a regulated utility that owns and maintains electric transmission assets in parts of Wisconsin, Michigan, Minnesota and Illinois. The ALLETE Clean Energy segment focuses on developing, acquiring and operating clean and renewable energy projects. The U.S. Water Services provides integrated water management for industry by combining chemical, equipment, engineering and service for customized solutions. As of December 31, 2016, its Corporate and Other consisted of BNI Energy, Inc. (BNI Energy), its coal mining operations in North Dakota, ALLETE Properties, LLC (ALLETE Properties), its Florida real estate investment and approximately 5,000 acres of land in Minnesota.

Regulated Operations

The Company's regulated utility operations include retail and wholesale activities under the jurisdiction of state and federal regulatory authorities. As of December 31, 2016, Minnesota Power provided regulated utility electric service in northeastern Minnesota to approximately 145,000 retail customers. SWL&P is a Wisconsin utility and a wholesale customer of Minnesota Power. As of December 31, 2016, Minnesota Power provided electric service to over six taconite customers capable of producing approximately 40 million tons of taconite pellets annually. Taconite pellets produced in Minnesota are shipped to North American steel making facilities that are part of the integrated steel industry. Steel produced from these North American facilities is used in the manufacture of automobiles, appliances, pipe and tube products for the gas and oil industry, and in the construction industry. As of December 31, 2016, Minnesota Power provided electric service to over three iron concentrate facilities capable of producing approximately four million tons of iron concentrate per year. In addition to serving the taconite industry, Minnesota Power serves a range of customers in the paper, pulp and secondary wood products industry.

As of December 31, 2016, Minnesota Power had nine power customer contracts, each serving requirements of 10 megawatts (MW) of customer load. As of December 31, 2016, SWL&P provided regulated electric, natural gas and water service in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers and 10,000 water customers. As of December 31, 2016, Minnesota Power had 16 non-affiliated municipal customers in Minnesota. As of December 31, 2016, Minnesota Power's generating capability was primarily coal-fired, but also included approximately 172 MW of natural gas-fired and biomass co-fired generation, 120 MW of hydroelectric generation, 522 MW of nameplate capacity wind energy generation and 10 MW of solar generation. As of December 31, 2016, it had electric transmission and distribution lines of 500 kilovolts, 345 kilovolts, 250 kilovolts, 230 kilovolts, 161 kilovolts, 138 kilovolts and 115 kilovolts. As of December 31, 2016, it owned and operated 165 substations with a total capacity of 8,396 megavolt amperes.

ALLETE Clean Energy

As of December 31, 2016, ALLETE Clean Energy segment owned and operated in four states, approximately 535 megawatts of nameplate capacity wind energy generation that is from power purchase agreements (PSAs) under various durations. ALLETE Clean Energy generally acquires facilities in liquid power markets and focuses on the exploration of PSA extensions upon expiration of existing contracts. ALLETE Clean Energy is targeting acquisitions of existing facilities up to 200 MW each, which have long-term PSAs in place for the facilities' output. ALLETE Clean Energy is also targeting the development of new facilities up to 200 MW each, which will have long-term PSAs in place for the output or may be sold upon completion.

U.S. Water Services

As of December 31, 2016, U.S. Water Services was located in 49 states and Canada and had a base of approximately 4,800 customers. U.S. Water Services develops synergies between solutions in engineering, equipment and chemical water treatment, and helping customers. U.S. Water Services is a provider to the biofuels industry, and also serves the food and beverage, industrial, power generation, and midstream oil and gas industries.

Corporate and Other

As of December 31, 2016, BNI Energy was a supplier of lignite in North Dakota, producing approximately four million tons annually and had lignite reserves of an estimated 650 million tons. ALLETE Properties' projects in Florida are Town Center at Palm Coast and Palm Coast Park. In addition to the two projects, ALLETE Properties had approximately 1,100 acres of other land available-for-sale, as of December 31, 2016.

Company Address

ALLETE Inc

30 W SUPERIOR ST
DULUTH   MN   55802-2191
P: +1218.7222641

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