We Energies Makes RE Commitment

In a first for a Wisconsin utility, We Energies has committed that at least five percent of its retail electric energy sales will come from Renewable Energy sources by 2011. The company will also spend an additional US$6 million annually over 10 years to reach this target, pending regulatory approval.

Milwaukee, Wisconsin – July 17, 2002 [SolarAccess.com] “We believe renewable resources must play an expanding role in our generation mix,” said Carl Siegrist, senior Renewable Energy strategist for We Energies. “Our five percent commitment exceeds what is required by law and demonstrates that our company is willing to do more than simply talk about Renewable Energy.” We Energies has also formed a Renewable Energy Collaborative (REC) to guide the company in achieving its Renewable Energy commitments. REC members include: American Wind Energy Assoc., Citizen’s Utility Board, Customers First! Coalition, Midwest Renewable Energy Assoc., RENEW Wisconsin, Sixteenth Street Community Health Center, and Wisconsin Energy Conservation Corp. The REC will assist in developing an action plan to help We Energies meet the five percent target. It is responsible for creating and implementing a plan which includes: -Identifying and developing pricing mechanisms and marketing initiatives to help achieve the five percent renewable electricity sales target while minimizing rate impacts; -Developing and using, where appropriate, finance-oriented methodologies for evaluating renewable generation projects; -Examining the use of tradable Renewable Energy certificates to account for part of the new Renewable Energy supply; -Developing a plan to increase net billing capacity ceilings for customer-owned renewable systems in the We Energies service area; -Developing a specific set of measures for reducing the costs of renewable generation in Wisconsin and presenting such agreed upon proposals to the appropriate state and federal legislative bodies and agencies; -Initiating feasibility studies on innovative Renewable Energy development such as offshore wind development in Lake Michigan; -Initiating feasibility studies on market-oriented vehicles for pooling private investment capital into distributed renewable generation projects; and -Developing a plan to use volume purchasing of modular renewable generation to lower the cost of We Energies customer-owned renewable systems. These commitments build upon the existing success of the company’s energy for tomorrow™ Renewable Energy program. One of the largest programs of its kind in the country, energy for tomorrow gives customers the choice to support electricity production using renewable resources.
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