Investor Presentaiton
ALLETE 2020 guidance reaffirmed
On August 5, 2020, we reinstated our 2020 earnings guidance to reflect demand nominations received August 1, 2020 for
Minnesota Power's taconite mining customers and other considerations
GUIDANCE RANGE (Non-GAAP)*
Regulated Operations
ALLETE Clean Energy / Corporate & Other
•
•
Minnesota Power Large Power customers:
CONSIDERATIONS
$3.25 - $3.45 (Excludes $0.16 rate case settlement impact, net of tax)
$2.65 - $2.75
$0.60 - $0.70
Demand nominations received August 1 in effect through December 31, 2020
Cliffs' Northshore Mining, U.S. Steel Minntac, and Hibbing Taconite - full nominations
U.S. Steel's Keetac and Verso Paper remain idled; Keetac announced that they will restart in December
Other Regulated customers:
.
•
•
Commercial, other industrial, municipals - anticipate sales to be down 5% for the remainder of 2020
Commercial & Municipal ~400 MW
Residential 200 MW
ALLETE Clean Energy / Corporate and Other - no significant change
South Peak wind facility in service slightly later than expected
Additional project development expenses
*
'See ALLETE's press release dated November 9, 2020 for a reconciliation of 2020 annual GAAP earnings guidance range to 2020 annual adjusted earnings guidance range (Non-GAAP).
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