Three 600 megawatt coal-fired units are planned for the Oak Creek Power Plant site. Diverse fuel sources for power plants enhance long-term fuel price stability and provide customers with a stable, less costly electricity supply. Using a diverse fuel mix of coal, nuclear, gas, hydro and renewable energy sources, along with purchased power, helps ensure adequate, reliable and affordable power. Wisconsin Energy will continue its commitment to the environment. In addition, the amount of energy generated from renewable resources will be increased along with energy conservation efforts.
Conservation is an important part of the power equation.
Wisconsin Energy will modify the power generation of the company to attract the billions of dollars in new investment necessary to build the new power plants in a timely fashion. Wisconsin Electric employees would operate and maintain the new plants as part of the lease agreement. At the end of the lease agreement, Wisconsin Electric would have the right to renegotiate and continue the lease or acquire the plants outright. The existing plants would remain with Wisconsin Electric and the regulatory status of the existing plants would be unchanged. Wisconsin Energy will work closely with the Public Service Commission of Wisconsin to ensure the state s long-term energy needs are met at a reasonable cost to all customers.