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Otter Tail Corp (OTTR) Q4 2020 Earnings Call Transcript


Otter Tail Corp (OTTR) Q4 2020 Earnings Call Transcript
Motley Fool Transcribers
© The Motley Fool
Logo of jester cap with thought bubble.
Otter Tail Corp (NASDAQ: OTTR)
Q4 2020 Earnings Call
Operator
Good morning and welcome to Otter Tail Corporation s 2020 Earnings Conference Call. Today s call is being recorded, and we will hold a question-and-answer session after the prepared remarks.
I will now turn the call over to the company for their opening comments.
This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company s SEC filings. Please see our ....

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Walz wants public utilities to meet lofty goal by 2040


Minnesota Gov. Tim Walz has been listening to the Minnesota Pollution Control Agency (MPCA) and he is pushing for a goal of having carbon-free electricity in the state by 2040.
According to a report recently released by the MPCA, the state is not currently on track to meet the goals of cutting overall greenhouse gas emissions by 30% in the next four years. The MPCA reports that overall greenhouse gas emissions have declined a mere 8% since 2005.
Walz sees the state’s electrical utilities as being the most progressive in reducing fossil fuel use and is counting on them to lead the way in cutting a decade off his 2050 goal of an 80% reduction in greenhouse gases. Along with DFL lawmakers, Walz wants to set a deadline for utilities to employ zero-emission energy resources by 2040. ....

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ENERGY TRANSITIONS: Can a 1990s strategy help states quit coal?


Published: Tuesday, January 12, 2021
Coal power plant in Michigan. Photo credit: Consumers Energy/Flickr
Michigan utility company Consumers Energy plans to shutter the last two units of its coal-burning D.E. Karn generating station in 2023. The power plant, pictured here in 2010, is located on the shore of Saginaw Bay in Hampton Township.
Consumers Energy/Flickr
Michigan utility Consumers Energy will take another step toward meeting its carbon-reduction goals in the spring of 2023 when it pulls the plug on the last two units at the coal-burning D.E. Karn generating station on the shore of Saginaw Bay.
But shutting down the 544-megawatt plant doesn t eliminate almost $700 million in unrecovered investments in Karn costs that will fall to the utility s 1.8 million customers even after the plant is no longer generating electricity. ....

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Otter Tail Power Company finishes work on 150 MW Merricourt Wind Energy Center


Daily Energy Insider
Published on December 29, 2020 by Chris Galford
© Shutterstock
The Otter Tail Power Company completed work on its largest capital investment to date last week, with the completion of the 150 MW Merricourt Wind Energy Center in North Dakota, transforming years of planning into a flood of new wind resources.
Marrincourt consists of 75 Vestas wind turbines, which provide enough energy to power 65,000 homes annually. EDF Renewables developed the project, while Wanzek Construction built it. In all, construction took 17 months. Otter Tail expects the facility to be a major piece of a plan for 35 percent of its power generation to come from renewable resources by 2023. Nearly 90 percent of that renewable energy will be wind-powered. ....

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