Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  Nasdaq  >  NorthWestern Corporation    NWE


SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

NorthWestern : Energy purchase of Puget Sound Energy's share of Colstrip Unit 4 terminated

10/30/2020 | 12:16pm EST

BUTTE - NorthWestern Corporation d/b/a NorthWestern Energy (Nasdaq: NWE) -After evaluating recent Montana regulatory decisions regarding Colstrip, NorthWestern Energy has agreed with Puget Sound Energy to terminate the transaction to buy 92.5 megawatts of capacity generation at Colstrip Unit 4 and an additional interest in the Colstrip Transmission System from Puget.

The sale required approval from the Montana Public Service Commission and the Washington Utilities and Transportation Commission. This month the WUTC's staff criticized the agreement, suggesting it provided too much value to Montana customers at the expense of Puget's Washington customers, substantially reducing the likelihood the WUTC would approve the sale.

'This is a huge loss for Montana and our customers,' said NorthWestern Energy Vice President Energy Supply and Montana Government Affairs John Hines. 'We pursued this agreement because it provided a way to immediately address some of our critical capacity shortage at a very low cost. In addition, it created a reserve fund to address the environmental costs for NorthWestern Energy's existing share of Colstrip Unit 4, which would have benefited our Montana customers. The environmental responsibilities for the purchased share of Colstrip Unit 4 remained with the seller. And it gave us the opportunity to add transmission assets to import and export energy to and from Montana.

'It is disappointing that policies enacted by the Washington legislature are controlling Montana's natural resources and our ability to reliably and cost-effectively serve our Montana customers. It is also disappointing that decisions by the Montana Public Service Commission have been so unsupportive of this vital generation.'

'The WUTC staff was critical of the agreement for NorthWestern Energy to sell Colstrip Unit 4 power back to Puget Sound Energy, noting that they were very uncomfortable with the risk to Puget's customers of 45 megawatts of power sales tied to market prices,' said Hines. 'Meanwhile, parties provided testimony to the Montana Public Service Commission advocating putting Montana customers in that risky position. Unfortunately, with the end of this transaction, NorthWestern Energy's customers require about 365 megawatts of capacity purchases to serve peak demand from a market that is shrinking, with no price ceiling. One only needs to look at the blackouts in California this past summer to appreciate the significance of the need for capacity resources. It is no longer hypothetical, capacity shortages are real.'

Recent Washington policies are contributing to the closure of thermal generation in the Pacific Northwest and growing shortages of capacity resources when energy demand is high. NorthWestern Energy'sMontana portfolio is far short of the capacity resources needed to meet our customers' peak energy demands, which makes the decreasing availability across the West a threat to reliable and affordable service.

NorthWestern Energy has requested proposals for 280 megawatts of capacity to begin serving Montana customers in 2023. The now abandoned purchase of Puget Sound Energy's share of Colstrip Unit 4 creates a greater urgency on NorthWestern Energy to secure all of the capacity solicited in the request for proposals.

About NorthWestern Energy (Nasdaq: NWE)

NorthWestern Corporation, doing business as NorthWestern Energy, provides electricity and / or natural gas to approximately 734,800 customers in Montana, South Dakota and Nebraska. We have generated and distributed electricity in South Dakota and distributed natural gas in South Dakota and Nebraska since 1923 and have generated and distributed electricity and distributed natural gas in Montana since 2002.


Travis Meyer

Tel: (605) 978-2967

Email: travis.meyer@northwestern.com

(C) 2020 Electronic News Publishing, source ENP Newswire

01/12NorthWestern Energy to Host Year-End 2020 Financial Results Webcast
01/12NORTHWESTERN : KeyBanc Adjusts NorthWestern's Price Target to $70 From $65, Main..
01/11NORTHWESTERN : Energy announces The Bob Glanzer Generating Station in Huron, S.D..
01/08NORTHWESTERN : Energy announces The Bob Glanzer Generating Station in Huron, S.D..
01/05INSIDER TRENDS : Northwestern Insider Receives Stock Award, Trend of Buys Extend..
01/05INSIDER TRENDS : Northwestern Insider Gets Stock Award, Prolongs Buy Trend
01/05INSIDER TRENDS : Northwestern Insider Granted Stock Award, Extends Buy Trend
01/05INSIDER TRENDS : Insider at Northwestern Receives Stock Award, Does not Sell, Sl..
2020NORTHWESTERN CORP : Change in Directors or Principal Officers, Financial Stateme..
2020INSIDER TRENDS : Insider 90-Day Selling Trend Extended at Northwestern
More news
Financials (USD)
Sales 2020 1 247 M - -
Net income 2020 170 M - -
Net Debt 2020 2 345 M - -
P/E ratio 2020 17,9x
Yield 2020 4,07%
Capitalization 2 991 M 2 991 M -
EV / Sales 2020 4,28x
EV / Sales 2021 4,23x
Nbr of Employees 1 533
Free-Float 92,3%
Duration : Period :
NorthWestern Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NORTHWESTERN CORPORATION
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 63,63 $
Last Close Price 59,13 $
Spread / Highest target 20,1%
Spread / Average Target 7,60%
Spread / Lowest Target -8,68%
EPS Revisions
Managers and Directors
Robert C. Rowe President, Chief Executive Officer & Director
Stephen P. Adik Chairman
Brian B. Bird Chief Financial Officer & Vice President
Travis Meyer Director-Finance & Investor Relations Officer
Jeanne M. Vold Business Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
NEXTERA ENERGY6.34%160 722
ENEL S.P.A.7.04%108 859
IBERDROLA, S.A.1.84%88 262
ORSTED A/S-5.79%80 035