(Source: Business Wire)
MDU Resources Group, Inc. (NYSE:MDU) announced today that the Big Stone
II Project, a planned 500-to-600-megawatt coal-fired power plant to be
located near Milbank, South Dakota, and its associated transmission,
will not be built. The project's four participants include
Montana-Dakota Utilities Co., a division of MDU Resources.
The project required additional participants to move forward; however
none have committed.
Montana-Dakota President and Chief Executive Officer Dave Goodin said
that, while it's disappointing that Big Stone II will not be built, the
utility has an adequate electric supply for the near-term.
"We have a purchased power agreement through 2015 that was to bridge us
to Big Stone II going online; we still have that agreement in place,"
Goodin said. "We will now look at other supply options that are reliable
and cost-beneficial for our customers. We have plans to expand our wind
production by 30 megawatts in 2010 and will review other generation
options."
The other Big Stone II Project participants were Central Minnesota
Municipal Power Agency, Heartland Consumers Power District and Missouri
River Energy Services.
MDU Resources Group, Inc., a Fortune 500 company and a member of the
S&P MidCap 400 index, provides value-added natural resource products and
related services that are essential to energy and transportation
infrastructure, operating in three core lines of business: energy,
utility resources and construction materials. MDU Resources includes
natural gas and oil production, natural gas pipelines and energy
services, electric and natural gas utilities, construction services, and
construction materials and contracting. For more information about MDU
Resources, see the company's Web site at www.mdu.com.
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