Is Allete a non-rate regulated company?

(See Note 6. Equity Investments.) South Shore Energy, ALLETE’s non-rate regulated, Wisconsin subsidiary, is developing NTEC, an approximately 600 MW proposed combined-cycle natural gas-fired generating facility to be built in Superior, Wisconsin, which will be jointly owned by Dairyland Power Cooperative, Basin and South Shore Energy.

Where is Allete located?

Our corporate headquarters are in Duluth, Minnesota. Statistical information is presented as of December 31, 2022, unless otherwise indicated. All subsidiaries are wholly-owned unless otherwise specifically indicated. References in this report to “we,” “us” and “our” are to ALLETE and its subsidiaries, collectively.

What makes Allete a great company?

While we serve our customers with excellence and provide exciting opportunities for our employees, we also take great pride in creating value for our shareholders. In February, the ALLETE Board of Directors approved an increased dividend of over 4%.

How many employees does Allete have?

Our management, the ALLETE Board of Directors Executive Compensation and Human Capital Committee, and our Board of Directors as a whole play key roles in reviewing and overseeing our human capital practices. As of December 31, 2022, ALLETE had 1,494 employees, of which 1,467 were full-time.

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How is Allete putting sustainability into action?

These renewable energy projects, completed with local labor and locally manufactured panels, are just one example of how ALLETE is putting sustainability into action. It has never been clearer that transmission investments will be critical to meeting clean-energy goals and transforming the electric grid.