Black Hills Corp. Wyoming Electric Utility Requests Approval for Ready Wyoming Transmission Expansion Project

Rhea-AI Summary

Black Hills Corp. (NYSE: BKH) announced its Wyoming subsidiary, Cheyenne Light, Fuel and Power Company, submitted a request to the Wyoming Public Service Commission for a certificate to build a $260 million transmission expansion project named Ready Wyoming. The project aims to enhance long-term price stability and interconnect various electric systems, supporting customer energy needs and renewable resource access. Construction is planned from 2023 to 2025, featuring new and expanded substations and transmission lines.

Positive

• The $260 million Ready Wyoming transmission expansion project aims to enhance long-term price stability for customers.
• The project will interconnect Black Hills Energy's transmission systems, improving energy access and resiliency.
• Construction planned in phases from 2023 to 2025 could enhance shareholder value.

Negative

• The project requires approval from the Wyoming Public Service Commission, which introduces regulatory risk.
• The reliance on forward-looking statements could lead to uncertainties regarding actual project outcomes and costs.

RAPID CITY, S.D., Feb. 15, 2022 (GLOBE NEWSWIRE) -- Black Hills Corp. (NYSE: BKH) today announced that its Wyoming electric utility subsidiary, Cheyenne Light, Fuel and Power Company, doing business as Black Hills Energy, submitted a request to the Wyoming Public Service Commission seeking approval for a certificate of public convenience and necessity to construct an estimated 260-mile transmission expansion project.

As proposed, the approximately $260 million transmission expansion project, known as Ready Wyoming, would provide customers long-term price stability and greater flexibility as power markets develop in the Western states. If approved, the project will interconnect Black Hills Energy’s South Dakota, eastern Wyoming and Cheyenne electric transmission systems.

“We’re excited by this opportunity to provide long-term benefits for our customers while also enhancing shareholder value,” said Linn Evans, CEO and President of Black Hills Corp. “Ready Wyoming will allow us to meet our customers’ energy needs today and well into the future, while enhancing the resiliency of our electric system and expanding access to power markets and renewable energy resources.”

The Ready Wyoming expansion project includes one new substation, two replacement substations, four expanded substations, three new 230-kilovolt transmission lines and two new 115-kilovolt transmission lines. If approved, construction of the project would take place in multiple phases or segments spanning 2023 through 2025.

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 1.3 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.blackhillsenergy.com.

Investor Relations
Jerome E. Nichols
605-721-1171
Jerome.nichols@blackhillscorp.com

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888-242-3969

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 miles and cost of 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 2021 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.

 

FAQ

What is the Ready Wyoming project by Black Hills Corp. (BKH)?

The Ready Wyoming project is a $260 million transmission expansion initiative aimed at enhancing price stability and energy access in Wyoming.

When is the construction for the Ready Wyoming project expected to begin?

Construction for the Ready Wyoming project is planned to take place in phases from 2023 through 2025.

How will the Ready Wyoming project benefit Black Hills Corp. (BKH) customers?

The project aims to provide long-term price stability, enhance system resiliency, and expand access to renewable energy resources.

What approvals are needed for the Ready Wyoming project?

The project requires approval from the Wyoming Public Service Commission.

What are the main components of the Ready Wyoming transmission expansion project?

The project includes one new substation, two replacement substations, four expanded substations, and new transmission lines.