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Minnesota PUC Approves Operations Extension for Xcel Energy's Prairie Island Nuclear Plant

LCG, August 15, 2025--Xcel Energy announced that the company received state approval yesterday from the Minnesota Public Utilities Commission to extend operations of the Prairie Island nuclear plant through the early 2050s. Prairie Island has two units that have a combined generating capacity of 1,100 MW. The units’ current operating licenses expire in 2033 and 2034.

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PGE Announces Addition of 475 MW of Battery Energy Storage Systems to Improve Grid Reliability and Costs

LCG, August 7, 2025--Portland General Electric (PGE) today announced the completion of three, four-hour lithium-ion utility-scale battery energy storage systems (BESS) in Oregon, adding 475 MW and more than 1.9 GWh of dispatchable capacity to serve the Portland metro area. Each of these BESS facilities can deliver power during peak demand or when other electric generating facilities are limited, which improves system flexibility, reliability and costs.

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Industry News

Cinergy Board Approves Poison Pill

LCG, July 28, 2000--Cinergy Corp. said yesterday that its directors had adopted a poison pill giving shareholders the right to purchase additional shares 10 days after acquisition by an investor of 10 percent or more of Cinergys common stock or the announcement of a tender offer or exchange offer which would have that result.

The "shareholder rights" plan, as poison pills are called, would impose economic penalties on a hostile acquirer of Cinergy shares.

Cinergy said the rights plan was not adopted in response to any effort to acquire control of the company, noting that more than 2,000 companies have rights plans, including a majority of the Fortune 500 and more than 40 utility companies.

Under Cinergys plan, shareholders will receive one right for each share of stock they own, distributed as a dividend. Each right will entitle the holder to purchase one share of Cinergy common stock at $100 when circumstances trigger the poison pill.

Cinergy common stock was trading on the New York Stock Exchange at 26 at noon today.

The shareholder rights plan would take effect following approval by the Securities and Exchange Commission.

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