- MDU Resources says it plans to make $3B in capital investments for the five-year period from 2022-26, with a focus on infrastructure development and grid reliability and resiliency.
- MDU says the plan includes construction of the previously announced Heskett Station Unit IV, an 88 MW natural gas-fired combustion turbine near Mandan, N.D., to replace Heskett Station Units I and II, which are coal fired electric generation facilities being retired in early 2022.
- The company anticipates its electric and natural gas utilities will grow rate base by ~5% annually over the next five years on a compound basis.
- At MDU's pipeline business, capital investments reflect organic growth projects and include the previously announced North Bakken Expansion project, which will be placed in service in early 2022, and the Wahpeton Expansion project planned for 2024; the projects would bring pipeline system capacity to more than 2.4B cf/day of natural gas.
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Notes From The "Bat Cave"
My friend and I discussing the MDU press release over coffee in the "bat cave."
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