Black Hills Corp. Energizes First Phase of Its Ready Wyoming Electric Transmission Expansion Project
Black Hills Corp. (NYSE: BKH) has successfully energized the first 12-mile segment and supporting substations of its Ready Wyoming transmission expansion project near Cheyenne. The complete 260-mile project, scheduled to be fully operational by end of 2025, will connect the company's Wyoming and South Dakota electric systems.
The project, which received Wyoming Public Service Commission approval in 2022, includes six new, replacement, or expanded substations and will interface with electricity markets to the east and west. It aims to reduce dependence on third-party transmission systems, stabilize long-term costs for customers, and support growing energy needs, particularly for data centers.
Ready Wyoming, the largest electric transmission project in Black Hills' history, spans five counties and approximately 300 landowners. The investment will be recovered through the company's transmission rider and is expected to contribute more than $100 million of economic benefit to the Wyoming economy.
Black Hills Corp. (NYSE: BKH) ha energizzato con successo il primo segmento di 12 miglia e le relative sottostazioni del suo progetto di espansione della trasmissione Ready Wyoming vicino a Cheyenne. Il progetto completo, lungo 260 miglia, è programmato per essere completamente operativo entro la fine del 2025 e collegherà i sistemi elettrici del Wyoming e del Dakota del Sud.
Il progetto, che ha ricevuto l'approvazione dalla Commissione per i Servizi Pubblici del Wyoming nel 2022, include sei nuove sottostazioni, sostituzioni o ampliamenti e si interfaccerà con i mercati elettrici a est e a ovest. Mira a ridurre la dipendenza dai sistemi di trasmissione di terzi, stabilizzare i costi a lungo termine per i clienti e supportare le crescenti esigenze energetiche, in particolare per i data center.
Ready Wyoming, il più grande progetto di trasmissione elettrica nella storia di Black Hills, si estende su cinque contee e circa 300 proprietari terrieri. L'investimento sarà recuperato tramite il rider di trasmissione dell'azienda ed è previsto che contribuisca con oltre 100 milioni di dollari di benefici economici all'economia del Wyoming.
Black Hills Corp. (NYSE: BKH) ha energizado con éxito el primer segmento de 12 millas y las estaciones de transformación de su proyecto de expansión de transmisión Ready Wyoming cerca de Cheyenne. El proyecto completo, que tiene programado estar completamente operativo para finales de 2025, conectará los sistemas eléctricos de la compañía en Wyoming y Dakota del Sur.
El proyecto, que recibió la aprobación de la Comisión de Servicios Públicos de Wyoming en 2022, incluye seis nuevas estaciones de transformación, reemplazos o ampliaciones y se interconectará con los mercados eléctricos al este y al oeste. Tiene como objetivo reducir la dependencia de los sistemas de transmisión de terceros, estabilizar los costos a largo plazo para los clientes y apoyar las crecientes necesidades energéticas, especialmente para los centros de datos.
Ready Wyoming, el proyecto de transmisión eléctrica más grande en la historia de Black Hills, abarca cinco condados y aproximadamente 300 propietarios de tierras. La inversión se recuperará a través del recargo por transmisión de la compañía y se espera que contribuya con más de 100 millones de dólares en beneficios económicos a la economía de Wyoming.
블랙 힐스 코프 (NYSE: BKH)가 쉐이엔 근처의 레디 와이오밍 전송 확장 프로젝트의 첫 12마일 구간과 지원 변전소에 성공적으로 전력을 공급했습니다. 총 260마일에 달하는 이 프로젝트는 2025년 말까지 완전히 운영될 계획이며, 와이오밍과 사우스다코타의 전력 시스템을 연결합니다.
2022년에 와이오밍 공공 서비스 위원회의 승인을 받은 이 프로젝트는 6개의 새로운 변전소, 교체 또는 확장을 포함하며, 동쪽과 서쪽 전력 시장과 연결됩니다. 이는 제3자 전송 시스템에 대한 의존도를 줄이고 고객을 위한 장기 비용을 안정시키며, 데이터 센터를 위한 에너지 수요 증가를 지원하는 것을 목표로 합니다.
레디 와이오밍은 블랙 힐스 역사상 가장 큰 전송 프로젝트로, 5개 카운티와 약 300명의 토지 소유자가 포함됩니다. 이 투자액은 회사의 전송 추가 요금을 통해 회수될 것이며, 와이오밍 경제에 1억 달러 이상의 경제적 혜택을 기여할 것으로 예상됩니다.
Black Hills Corp. (NYSE: BKH) a réussi à électrifier le premier segment de 12 miles et les sous-stations de soutien de son projet d'extension de transmission Ready Wyoming près de Cheyenne. Le projet complet, qui devrait être entièrement opérationnel d'ici la fin de 2025, reliera les systèmes électriques de l'entreprise au Wyoming et au Dakota du Sud.
Le projet, qui a reçu l'approbation de la Commission des services publics du Wyoming en 2022, comprend six nouvelles sous-stations, des remplacements ou des agrandissements et sera relié aux marchés de l'électricité à l'est et à l'ouest. Il vise à réduire la dépendance aux systèmes de transmission tiers, stabiliser les coûts à long terme pour les clients et soutenir les besoins énergétiques croissants, en particulier pour les centres de données.
Ready Wyoming, le plus grand projet de transmission électrique de l'histoire de Black Hills, s'étend sur cinq comtés et environ 300 propriétaires terriens. L'investissement sera récupéré par le biais du supplément de transmission de l'entreprise et devrait contribuer à hauteur de plus de 100 millions de dollars aux bénéfices économiques de l'économie du Wyoming.
Black Hills Corp. (NYSE: BKH) hat erfolgreich das erste 12-Meilen-Segment und die unterstützenden Umspannwerke seines Übertragungsprojekts Ready Wyoming nahe Cheyenne in Betrieb genommen. Das gesamte 260-Meilen-Projekt, das bis Ende 2025 vollständig betriebsbereit sein soll, wird die elektrischen Systeme des Unternehmens in Wyoming und South Dakota verbinden.
Das Projekt erhielt 2022 die Genehmigung der Wyoming Public Service Commission und umfasst sechs neue, ersetzte oder erweiterte Umspannwerke. Zudem wird es mit den Elektrizitätsmärkten im Osten und Westen verbunden sein. Ziel ist es, die Abhängigkeit von Übertragungssystemen Dritter zu reduzieren, die langfristigen Kosten für die Kunden zu stabilisieren und den wachsenden Energiebedarf, insbesondere von Rechenzentren, zu unterstützen.
Ready Wyoming ist das größte Übertragungsprojekt in der Geschichte von Black Hills, erstreckt sich über fünf Countys und umfasst etwa 300 Grundstückseigentümer. Die Investition wird über den Übertragungsaufschlag des Unternehmens zurückgezahlt und soll mehr als 100 Millionen Dollar wirtschaftlichen Nutzen für die Wirtschaft von Wyoming beitragen.
- Reduction in third-party transmission expenses
- Expected $100M+ economic benefit to Wyoming economy
- Enhanced system reliability and market access
- Project on schedule for 2025 completion
- Investment recovery secured through transmission rider
- None.
Insights
The energization of the first phase of Black Hills Corp's Ready Wyoming transmission project represents a strategic infrastructure milestone. The
The 260-mile transmission expansion addresses three critical business objectives:
- Elimination of third-party transmission costs, improving long-term pricing stability and margins
- Enhanced market access to both eastern and western power markets, providing trading flexibility and potential revenue opportunities
- Increased capacity for data center customers - a high-growth, high-margin customer segment
The project's regulatory recovery through transmission riders provides earnings visibility and de-risks the investment. The Wyoming-South Dakota interconnection will create a more resilient regional grid architecture, particularly valuable given the increasing frequency of extreme weather events impacting grid stability.
This project represents a material capital investment that strengthens BKH's regulated asset base and future earnings potential. Key financial implications include:
- Guaranteed cost recovery through transmission riders provides predictable revenue streams
- Elimination of third-party transmission fees will improve operating margins
- Strategic positioning for data center load growth provides a runway for future earnings expansion
For context: With a market cap of
- Energizing the initial segment of the project marks a significant milestone in connecting the company’s Wyoming and South Dakota electric systems.
- The strategic project is expected to stabilize long-term transmission costs for customers, expand market access to energy, and support long-term growth in Wyoming.
RAPID CITY, S.D., Jan. 15, 2025 (GLOBE NEWSWIRE) -- Black Hills Corp. (NYSE: BKH) today announced that its Wyoming electric utility has successfully placed in service the initial 12-mile segment and supporting substations of its Ready Wyoming transmission expansion project near Cheyenne, Wyoming.
The approximately 260-mile transmission project will support current and growing energy needs of the company’s Wyoming customers, including data centers, while reducing dependence on third-party transmission systems. Once fully operational, Black Hills’ Wyoming electric system will be interconnected with its South Dakota electric system. This interconnection is expected to provide customers with long-term price stability while enhancing the resiliency of the electric system and expanding access to power markets and renewable energy resources.
“Ready Wyoming, the largest electric transmission project in Black Hills’ history, delivers on our commitment to serving the growing energy needs of our customers in Wyoming,” said Linn Evans, president and CEO of Black Hills Corp. “This expansion of our electric infrastructure enhances both the reliability and resiliency for our existing retail and data center customers, as well as the ability to serve new customers.”
The 260-mile project is being completed in multiple segments, and the investment will be recovered through the company's transmission rider. The project is on schedule to be fully operational by the end of 2025. When complete, the project will add a total of six new, replacement or expanded substations and will interface with electricity markets to the east and the west.
“We remain focused on prudently managing costs for customers. This project will enable ongoing cost-effective access to energy, as we eliminate third-party transmission expenses, and support our thriving and growing Wyoming communities,” added Marne Jones, senior vice president, utilities. “I would like to thank our team and stakeholders for meeting this milestone and for their continuing work to advance this complex project, which spans five counties and approximately 300 landowners.”
The company received approval for the project from the Wyoming Public Service Commission in 2022 and commenced construction in 2023. Ready Wyoming is expected to contribute more than
Black Hills Corp.
Black Hills Corp. (NYSE: BKH) is a customer-focused, growth-oriented utility company with a tradition of improving life with energy and a vision to be the energy partner of choice. Based in Rapid City, South Dakota, the company serves 1.34 million natural gas and electric utility customers in eight states: Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. More information is available at www.blackhillscorp.com.
About Ready Wyoming
Ready Wyoming is an approximately 260-mile electric transmission expansion project currently under construction to serve the current and growing energy needs of Wyoming homes and businesses served by Black Hills Corp.’s electric utility, Cheyenne Light, Fuel and Power, doing business as Black Hills Energy. Ready Wyoming is expected to be fully operational by the end of 2025.
Investor Relations
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Caution Regarding Forward-Looking Statement
This news release includes “forward-looking statements” as defined by the Securities and Exchange Commission, or SEC. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this news release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements, including the status and anticipated benefits of or costs associated with the transmission expansion project. These forward-looking statements are based on assumptions which we believe are reasonable based on current expectations and projections about future events and industry conditions and trends affecting our business. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks and uncertainties that, among other things, could cause actual results to differ materially from those contained in the forward-looking statements, the risk factors described in Item 1A of Part I of our 2023 Annual Report on Form 10-K filed with the SEC, and other reports that we file with the SEC from time to time.
New factors that could cause actual results to differ materially from those described in forward-looking statements emerge from time-to-time, and it is not possible for us to predict all such factors, or the extent to which any such factor or combination of factors may cause actual results to differ from those contained in any forward-looking statement. We assume no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise.
Photos accompanying this announcement are available at
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