WEC Energy Group has officially published the results from its 2024 Corporate Responsibility Report, which was originally structured to outline the progress made by WEC Energy Group’s family of companies on major projects, as well as the company’s mission to deliver affordable, reliable, and clean energy across the Midwest.
Going by the available details, this particular study also had an eye on examining WEC Energy’s climate strategy and the research and development of emerging technologies such as natural gas heat pumps, renewable natural gas, and long-duration battery storage.
Talk about the published results on a slightly deeper level, we begin from how they reveal that WEC Energy Group’s investments in a balanced ‘all of the above’ power generation mix, including modern natural gas generation and renewable energy, are poised to meet unprecedented electric demand growth in the region, while simultaneously maintaining essential reliability and flexibility year-round.
Next up, the report digs into how the company plans to deploy a staggering $28 billion to facilitate new power generation, and at the same time, implement projects that can enhance reliability. This involves conducting leading research, such as in hydrogen and long-duration energy storage projects, thus building upon its existing efforts to invest in renewable generation.
Another detail, from the given report, worth a mention relates to WEC Energy receiving the Wisconsin Department of Workforce Development’s Vets Ready Award for outstanding support of military veterans, marking fifth consecutive victory for the company.
Moving on, WEC also supplied $19 million in charitable grants and contributions to nonprofit organizations. Alongside that, it disbursed a sum of $2.5 million in donations to low-income customer programs.
Hold on, we still have a few bits left to unpack, considering we haven’t yet touched upon how the company also reinforced its long-term goal of achieving net carbon neutral electric generation by 2050 and eliminate coal as an energy source by the end of 2032.
It further conducted various special training and programs to strengthen its commitment towards employee and community safety. Almost like an extension of that, WEC also enhanced its talent pipeline through innovative programs and partnerships with organizations such as Milwaukee Public Schools, Milwaukee Area Technical College and the Chicago Urban League.
As a result of these efforts and more, WEC Energy was also selected by S&P for inclusion in the High Yield Dividend Aristocrats Index.
Founded in 2015, WEC Energy Group’s rise up the ranks stems from designing, building and owning electric generating plants. The company’s portfolio of utilities currently include We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources, and Upper Michigan Energy Resources, holding in totality $48 billion worth of assets.
WEC’s excellence in what it does can be understood once you consider it serves more than 4.7 million customers in Wisconsin, Illinois, Michigan and Minnesota. In case that wasn’t enough, then we ought to acknowledge how the company is also a part of the Fortune 500 group.
“Across the Midwest, our 4.7 million customers depend on us to power and heat their homes and businesses safely and reliably,” said Scott Lauber, president and CEO of WEC Energy Group. “To help chart our path forward, we continue to invest in research, technology and system improvement. We look forward to significant opportunities ahead, guided by our commitment to excellence and corporate citizenship.”
