Building an energy future that is affordable, reliable and clean
As we look to the future of our business, we are working to maintain affordable energy rates and reliability while reducing emissions.
For our electric generation fleet, we have set a goal to achieve net carbon neutrality by 2050, aligned with global emissions pathways aimed at limiting warming to 1.5 degrees Celsius. In the near term, we expect to use coal only as a backup fuel by the end of 2030, and to eliminate coal as an energy source by the end of 2032.
We continue to work with industry partners, environmental groups and state leaders. Our focus is to continue a balanced electric generation mix, while taking the following actions:
Our focus is to continue a balanced electric generation mix, while taking the following actions:
- Investing in cost-effective, low- or no-emitting renewable and natural gas generation
- Retiring older, less efficient fossil-fueled units
- Improving our natural gas distribution system
Capital investment plan
Our $37.5 billion five-year capital plan is the largest in our company’s history. It includes an anticipated $12.6 billion in new renewable investments in solar, wind and battery storage across our utilities between 2026 and 2030. We also expect to invest a total of $7.4 billion in modern, efficient natural gas generation and liquefied natural gas storage.
Natural gas generation will serve as a critical resource in our energy transformation. Extreme cold weather is one of the challenges the Midwest faces as we integrate higher levels of renewable energy technologies into our electric system and continue to provide customers with the natural gas they need to heat their homes. On the coldest and darkest days, wind and solar may not be operational. Natural gas generation is essential during these times to meet our customers’ needs. In addition to building new generation, we are investing in fuel flexibility to transition newer coal-fueled units to natural gas.
Our plan for a balanced energy mix will help us cut emissions, maintain superior reliability, deliver significant savings for customers and grow our investment in the future of energy.
Exploring new technology
Our company has a long history of supporting innovation in our industry.
For example, in fall 2022, we successfully led a first-of-its-kind hydrogen power test. During two weeks of testing, hydrogen and natural gas were tested in blends up to 25%/75% by volume to power one of the generating units that serves customers of Upper Michigan Energy Resources, a WEC Energy Group subsidiary.
The testing was performed on an 18-megawatt unit that uses a technology known as RICE — reciprocating internal combustion engines. The RICE unit was continually monitored during the test to measure performance, output and emissions data.
The project was named the 2023 Hydrogen Plan Award winner by POWER magazine and received an EPRI Technology Transfer Award.
Project partner EPRI shared an analysis of the test to further inform the energy industry on ways to successfully use hydrogen for power generation to support reducing carbon emissions.
Track record of environmental responsibility
We began reducing carbon emissions from coal-fueled generation through the conversion of the We Energies Port Washington Power Plant (now Port Washington Generating Station) and Valley Power Plant to natural gas in 2005-08 and 2014-15, respectively.
Combined, We Energies and Wisconsin Public Service have retired nearly 2,500 MW of older, less efficient fossil-fueled generation since the beginning of 2018:
- 200-MW WPS Pulliam Power Plant in Green Bay, Wisconsin
- 100-MW WPS share of Edgewater 4 in Sheboygan, Wisconsin
- 1,190-MW We Energies Pleasant Prairie Power Plant in Pleasant Prairie, Wisconsin
- 350-MW We Energies Presque Isle Power Plant in Marquette, Michigan
- 528-MW We Energies Oak Creek Units 5-6
- 74-MW Weston Unit 2