Increased Peak Demand Growth
Projected peak demand growth by 2030 has increased to an industry-leading 50% due to a fourth electric service agreement with QTS Madison and a new agreement with Google.
Strong Financial Performance
Maintained the midpoint and narrowed the 2025 ongoing earnings guidance range to $3.17 to $3.23 per share, trending towards the upper half of this range.
2026 Earnings and Dividend Guidance
Initiated 2026 earnings guidance of $3.36 to $3.46 per share, representing a 6.6% increase over the 2025 midpoint, and set a 2026 dividend target of $2.14 per share, a 5.4% increase from 2025.
Increased Capital Expenditure Plan
Increased 4-year capital expenditure plan by 17% to $13.4 billion, translating to a projected rate base and investment CAGR of 12% from 2025 to 2029.
Regulatory Approvals
The Iowa Utilities Commission and Public Service Commission of Wisconsin approved key rate filings for data centers, demonstrating regulatory support.