Missouri River Energy Services completes agreement with WPPI Energy
Missouri River Energy Services (MRES) has agreed to a twenty year purchased power agreement with WPPI Energy for output from the Point Beach Nuclear Plant (Point Beach) located near Two Rivers, Wisconsin. The Point Beach Plant is owned and operated by NextEra Energy Point Beach LLC (NextEra).
Point Beach is composed of two generating units with generating capacity of approximately 595 MW each. WPPI Energy holds the rights to 162 MW of that capacity under a long-term agreement with NextEra.
The agreement between WPPI Energy and MRES is effective July 13, 2011 and MRES will receive 32 MW of Point Beach capacity and energy from WPPI Energy for 20 years starting September 1, 2011. "This agreement with WPPI Energy provides MRES with another piece in our on-going efforts to diversify our power supply portfolio in order to meet the growing needs of our member utilities in the most reliable and cost-effective manner possible," said MRES CEO Tom Heller. "Since MRES presently has no nuclear component in our power supply portfolio, this agreement provides MRES with diversification in generation fuel source as well as plant location. We have enjoyed an excellent working relationship with WPPI Energy on other efforts in the past and look forward to this new partnership moving forward."
MRES is a not-for-profit joint action agency located in Sioux Falls, South Dakota. MRES provides power and other energy services to 60 municipal electric distribution utilities, including Alexandria Light and Power, in the states of Iowa, Minnesota, North Dakota, and South Dakota.
WPPI Energy Senior Vice President Pat Connors said that the agreement allows WPPI Energy and MRES to cost-effectively obtain a new power supply resource as a result of economies of scale and provides added power supply flexibility for WPPI Energy. "As public power agencies, WPPI Energy and MRES share a strong commitment to working together for the benefit of our member communities," Connors said. "This agreement builds upon our excellent, longstanding relationship with MRES."
WPPI Energy is a joint action agency located in Sun Prairie, Wisconsin. WPPI Energy serves 51 customer-owned utilities in the states of Iowa, Michigan, and Wisconsin.