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New York Poised to Close Last Coal-fire Power Plant

LCG, December 4, 2019--The last operating coal-fired power plant in New York is moving toward closure shortly. Last month, Somerset Operating Company, a subsidiary of Riesling Power LLC, submitted a request to the New York State Public Service Commission (NYSPSC) to waive the state's required, 180-day notice to close the Somerset Station, allowing the facility to be retired on February 15, 2020. Closure is contingent on approvals by both NYSPSC and the New York Independent System Operator (NYISO), which will evaluate if it will cause an adverse effect on grid reliability.

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Construction Commences on Enel’s Aurora Wind Farm in North Dakota

Enel Green Power North America, Inc. (“EGPNA”), the US renewable energy company of the Enel Group, has started construction of the 299-MW Aurora Wind Farm in North Dakota.

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Industry News

Madison Gas and Electric To Form Holding Company

LCG, Nov. 5, 2001--Madison Gas & Electric Co. said Friday it has filed a registration statement with the Securities and Exchange Commission regarding its proposal to create a holding company named MGE Energy, Inc.

MG&E said it is planning to build and own new power plants to meet growing customer needs and forming a holding company expands the company's options for financing this new generation. "The holding company structure gives us more financing flexibility for each new project we undertake" said Jeff Newman, MG&E vice president and treasurer.

The company stressed that it had no intention of pursuing global initiatives irrelevant to its Wisconsin customers. "MG&E will continue its focus on the utility business in our local communities," said Gary Wolter, president and chief executive. "We are a community energy company and will remain one. The holding company will only increase our ability to serve our customers and shareholders well."

Among the projects that prompted plans for the new holding company is a cogeneration project to provide steam and chilled water for the University of Wisconsin-Madison and electricity for householders in MG&E's service territory. The company said the holding company structure facilitates the construction and financing of this project.

Under the holding company proposal, shares of MG&E common stock would be exchanged on a one-for-one basis for shares of MGE Energy, Inc. Company shareholders will vote on the holding company proposal at their annual meeting next May. All other approvals are expected to be completed by summer 2002.

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