We Energies plans to keep buying electricity from the Point Beach Nuclear Plant in Manitowoc County, Wisconsin, through 2053 under a new power purchase agreement with NextEra Energy. The utility's parent company disclosed the agreement in a filing with the Securities and Exchange Commission this week. Under the deal, We Energies would take 86 percent of the energy from Point Beach Units One and Two, the two reactors that sit along Lake Michigan in Two Rivers.
The timing reflects load growth across the state. A recent draft report from Wisconsin utility regulators projected that electricity demand in the state could climb by more than 40 percent by 2032, driven largely by hyperscale data centers. Committing to output from an existing reactor gives the utility a block of round the clock generation that requires no new construction schedule.
The agreement still requires approval from the Public Service Commission of Wisconsin. The SEC filing carried no financial terms, and the filing stated that the arrangement "will result in savings for customers." Ratepayer advocates want to see the numbers before drawing conclusions, pointing out that the existing Point Beach agreement has grown more costly for We Energies customers in recent years.
"We certainly hope that it's a much, much better deal than what we're locked in now," said Tom Content, executive director of the Citizens Utility Board of Wisconsin. Content added that a 20 year commitment carries forecasting risk because future market conditions are hard to predict.
Point Beach has operated on Lake Michigan for decades and is owned by NextEra Energy.
Source: Urban Milwaukee - https://urbanmilwaukee.com/2026/08/21/we-energies-deal-would-buy-power-from-point-beach-nuclear-plant-into-2050s/