{"id":744361,"date":"2023-03-31T16:04:32","date_gmt":"2023-03-31T20:04:32","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/cost-and-reliability-drive-otter-tail-power-companys-15-year-resource-plan\/"},"modified":"2023-03-31T16:04:32","modified_gmt":"2023-03-31T20:04:32","slug":"cost-and-reliability-drive-otter-tail-power-companys-15-year-resource-plan","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cost-and-reliability-drive-otter-tail-power-companys-15-year-resource-plan\/","title":{"rendered":"Cost and reliability drive Otter Tail Power Company\u2019s 15-year resource plan"},"content":{"rendered":"<p>        <!--.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>Cost and reliability drive Otter Tail Power Company\u2019s 15-year resource plan<\/b><\/p>\n<p>FERGUS FALLS, Minn.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nOtter Tail Power Company has submitted an updated 2022- 2036 Application for Integrated Resource Plan (IRP) with regulatory commissions in each of the three states it serves: Minnesota, North Dakota, and South Dakota.\n<\/p>\n<p>\nIn September 2021 the company submitted its initial IRP filing. \u201cSince that time, mounting changes have presented a markedly different planning landscape than the one our initial filing addressed,\u201d said Otter Tail Power Vice President of Energy Supply Brad Tollerson. \u201cBased on those factors, we\u2019ve updated the preferred plan set forth in our initial filing.\u201d\n<\/p>\n<p><b>Updated preferred plan<\/b><\/p>\n<p>\nThe updated preferred plan provides specific actions the company intends to complete in the next five years, which include:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nAdding on-site liquified natural gas (LNG) fuel storage at Astoria Station in 2026.\n<\/li>\n<li>\nAdding approximately 200 megawatts (MW) of solar generation in the 2027-2028 timeframe.\n<\/li>\n<li>\nTaking the initial steps necessary to add approximately 200 MW of wind generation in the 2029 timeframe.\n<\/li>\n<li>\nWithdrawing from its 35% ownership interest in Coyote Station if the company is required to make a large, non-routine capital investment in the plant.\n<\/li>\n<\/ul>\n<p>\nThe company also intends to repower four of its existing wind farms as part of its IRP baseline model.\n<\/p>\n<p><b>How initial and updated plans compare<\/b><\/p>\n<p>\n\u201cOur updated preferred plan adds more renewable generation resources to our portfolio than our prior plan,\u201d said Tollerson. \u201cWith respect to Coyote Station, our analysis still supports withdrawal from our ownership interest if we are required to make a large, non-routine capital investment to operate the plant or comply with regulatory mandates. That was the case in our initial preferred plan and remains the case with today\u2019s update. Where our Coyote Station analysis differs from our initial filing is that the mix of uncertainties and risks our customers face in the current planning environment supports retention of Coyote Station in our generation portfolio if we\u2019re not required to make a major capital investment in the plant.\u201d\n<\/p>\n<p>\nOtter Tail Power President Tim Rogelstad adds, \u201cAs a winter peaking utility, we are particularly concerned about the Midcontinent Independent System Operator\u2019s (MISO\u2019s) new minimum capacity planning requirements, open questions concerning MISO accreditation methodologies, and projected capacity deficits within MISO. We believe it\u2019s in the public interest to retain Coyote Station\u2019s existing dispatchable capacity in our generation portfolio pending greater visibility into any non-routine capital investments that may be required to continue operating the plant.\u201d This position will be subject to evaluation in the company\u2019s next IRP filings.\n<\/p>\n<p><b>Meeting customers\u2019 needs; complying with laws and regulations<\/b><\/p>\n<p>\n\u201cOur updated preferred plan ensures we have the resources necessary to continue providing reliable, low-cost electricity to meet our customers\u2019 needs,\u201d said Rogelstad. \u201cThe plan preserves flexibility to respond to risks in a changing planning environment; complies with the requirements of applicable statutes and 5 rules, including the Minnesota Clean Energy Law; utilizes Inflation Reduction Act incentives to lower renewable energy generation costs; and accounts for differing energy policies in each of the three states we serve while preserving the customer benefits of system-wide planning and networked assets for a small utility.\u201d\n<\/p>\n<p><b>Next steps<\/b><\/p>\n<p>\nThe Minnesota Public Utilities Commission (MPUC) procedural schedule allows intervenors four months to analyze the company\u2019s updated plan and provide feedback to the MPUC. The company then has two months to respond to intervenors\u2019 comments. Otter Tail Power anticipates an MPUC hearing toward the end of 2023. The North Dakota Public Service Commission (ND PSC) has hired a consultant to review the modeling and determine whether the company\u2019s preferred plan is reasonable. Otter Tail Power anticipates receiving ND PSC comments on the consultant\u2019s report by this fall. The South Dakota Public Utilities Commission (SD PUC) doesn\u2019t have formal IRP requirements or proceedings, but the company has filed its IRP with the SD PUC because it is a vital stakeholder.\n<\/p>\n<p>\n\u201cAs we\u2019ve done since starting our resource planning process, we\u2019ll continue to monitor the changing landscape,\u201d said Rogelstad.\n<\/p>\n<p>\nThis news release is on our website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.otpco.com%2Fnewsroom%2F&amp;esheet=53372067&amp;newsitemid=20230331005348&amp;lan=en-US&amp;anchor=otpco.com%2Fnewsroom&amp;index=1&amp;md5=dfb1c7d64e90813f159428bf0374d576\">otpco.com\/newsroom<\/a>.\n<\/p>\n<p>\nOtter Tail Power Company, a subsidiary of Otter Tail Corporation (Nasdaq Global Select Market: OTTR), is headquartered in Fergus Falls, Minnesota. With a balanced commitment to environmental, economic, and community stewardship, the company provides electricity and energy services to approximately 133,000 customers in Minnesota, North Dakota, and South Dakota. To learn more about Otter Tail Power Company visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.otpco.com&amp;esheet=53372067&amp;newsitemid=20230331005348&amp;lan=en-US&amp;anchor=otpco.com&amp;index=2&amp;md5=385980208503cdfed2f6b982a72ae4de\">otpco.com<\/a>. To learn more about Otter Tail Corporation visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ottertail.com&amp;esheet=53372067&amp;newsitemid=20230331005348&amp;lan=en-US&amp;anchor=ottertail.com&amp;index=3&amp;md5=f49c1930423d8583ec9cd9c8868679cd\">ottertail.com<\/a>.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230331005348r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230331005348\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230331005348\/en\/<\/a><\/span><\/p>\n<p><b>Stephanie Hoff<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:shoff@otpco.com\">shoff@otpco.com<br \/>\n<\/a><br \/>218-739-8535\n<\/p>\n<p><b>KEYWORDS:<\/b> Minnesota United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Utilities Energy<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Cost and reliability drive Otter Tail Power Company\u2019s 15-year resource plan FERGUS FALLS, Minn.&#8211;(BUSINESS WIRE)&#8211; Otter Tail Power Company has submitted an updated 2022- 2036 Application for Integrated Resource Plan (IRP) with regulatory commissions in each of the three states it serves: Minnesota, North Dakota, and South Dakota. In September 2021 the company submitted its initial IRP filing. \u201cSince that time, mounting changes have presented a markedly different planning landscape than the one our initial filing addressed,\u201d said Otter Tail Power Vice President of Energy Supply Brad Tollerson. \u201cBased on those factors, we\u2019ve updated the preferred plan set forth in our initial filing.\u201d Updated preferred plan The updated preferred plan provides specific actions the company intends to complete in the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cost-and-reliability-drive-otter-tail-power-companys-15-year-resource-plan\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Cost and reliability drive Otter Tail Power Company\u2019s 15-year resource plan&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-744361","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cost and reliability drive Otter Tail Power Company\u2019s 15-year resource plan - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cost-and-reliability-drive-otter-tail-power-companys-15-year-resource-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cost and reliability drive Otter Tail Power Company\u2019s 15-year resource plan - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Cost and reliability drive Otter Tail Power Company\u2019s 15-year resource plan FERGUS FALLS, Minn.&#8211;(BUSINESS WIRE)&#8211; Otter Tail Power Company has submitted an updated 2022- 2036 Application for Integrated Resource Plan (IRP) with regulatory commissions in each of the three states it serves: Minnesota, North Dakota, and South Dakota. In September 2021 the company submitted its initial IRP filing. \u201cSince that time, mounting changes have presented a markedly different planning landscape than the one our initial filing addressed,\u201d said Otter Tail Power Vice President of Energy Supply Brad Tollerson. \u201cBased on those factors, we\u2019ve updated the preferred plan set forth in our initial filing.\u201d Updated preferred plan The updated preferred plan provides specific actions the company intends to complete in the &hellip; Continue reading &quot;Cost and reliability drive Otter Tail Power Company\u2019s 15-year resource plan&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/cost-and-reliability-drive-otter-tail-power-companys-15-year-resource-plan\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-31T20:04:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230331005348r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cost-and-reliability-drive-otter-tail-power-companys-15-year-resource-plan\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cost-and-reliability-drive-otter-tail-power-companys-15-year-resource-plan\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Cost and reliability drive Otter Tail Power Company\u2019s 15-year resource plan\",\"datePublished\":\"2023-03-31T20:04:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cost-and-reliability-drive-otter-tail-power-companys-15-year-resource-plan\\\/\"},\"wordCount\":791,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cost-and-reliability-drive-otter-tail-power-companys-15-year-resource-plan\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20230331005348r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cost-and-reliability-drive-otter-tail-power-companys-15-year-resource-plan\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cost-and-reliability-drive-otter-tail-power-companys-15-year-resource-plan\\\/\",\"name\":\"Cost and reliability drive Otter Tail Power Company\u2019s 15-year resource plan - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/cost-and-reliability-drive-otter-tail-power-companys-15-year-resource-plan\/","og_locale":"en_US","og_type":"article","og_title":"Cost and reliability drive Otter Tail Power Company\u2019s 15-year resource plan - Market Newsdesk","og_description":"Cost and reliability drive Otter Tail Power Company\u2019s 15-year resource plan FERGUS FALLS, Minn.&#8211;(BUSINESS WIRE)&#8211; Otter Tail Power Company has submitted an updated 2022- 2036 Application for Integrated Resource Plan (IRP) with regulatory commissions in each of the three states it serves: Minnesota, North Dakota, and South Dakota. In September 2021 the company submitted its initial IRP filing. \u201cSince that time, mounting changes have presented a markedly different planning landscape than the one our initial filing addressed,\u201d said Otter Tail Power Vice President of Energy Supply Brad Tollerson. \u201cBased on those factors, we\u2019ve updated the preferred plan set forth in our initial filing.\u201d Updated preferred plan The updated preferred plan provides specific actions the company intends to complete in the &hellip; Continue reading \"Cost and reliability drive Otter Tail Power Company\u2019s 15-year resource plan\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/cost-and-reliability-drive-otter-tail-power-companys-15-year-resource-plan\/","og_site_name":"Market Newsdesk","article_published_time":"2023-03-31T20:04:32+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230331005348r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cost-and-reliability-drive-otter-tail-power-companys-15-year-resource-plan\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cost-and-reliability-drive-otter-tail-power-companys-15-year-resource-plan\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Cost and reliability drive Otter Tail Power Company\u2019s 15-year resource plan","datePublished":"2023-03-31T20:04:32+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cost-and-reliability-drive-otter-tail-power-companys-15-year-resource-plan\/"},"wordCount":791,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cost-and-reliability-drive-otter-tail-power-companys-15-year-resource-plan\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230331005348r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cost-and-reliability-drive-otter-tail-power-companys-15-year-resource-plan\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/cost-and-reliability-drive-otter-tail-power-companys-15-year-resource-plan\/","name":"Cost and reliability drive Otter Tail Power Company\u2019s 15-year resource plan - 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