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Allete Inc's Business Segments
Allete Inc's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of Q3 FY2025
Reportable Segments
5
Largest Segment
Regulated Operations
Total Revenue
$ 375
Regions Reported
-
Revenue Share by Reportable Segment - Q3 FY2025
- Regulated Operations85.4%
- Corporate Segment and Other Operating7.1%
- Corporate and Unallocated7.1%
- New Energy4.2%
- ALLETE Clean Energy3.3%
Revenue by Reportable Segment - Q3 FY2025
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Regulated Operations | $ 320 | 85.4% |
| Corporate Segment and Other Operating | $ 27 | 7.1% |
| Corporate and Unallocated | $ 27 | 7.1% |
Description of Allete Inc
Allete Inc. is a diversified energy company headquartered in Duluth, Minnesota. Founded in 1906, Allete has a long history of providing energy services to customers in the Midwest and beyond. The company operates through three business segments: Regulated Operations, Energy Infrastructure, and Corporate and Other.
The Regulated Operations segment includes Allete's regulated utilities – Minnesota Power and Superior Water, Light and Power. Minnesota Power provides electricity to over 145,000 customers in northern Minnesota, while Superior Water, Light, and Power provides electricity, natural gas, and water services to customers in Wisconsin. These two regulated utilities are responsible for generating, transmitting and distributing electricity to customers in their respective regions. They own and operate a variety of power plants, transmission lines, and distribution systems.
The Energy Infrastructure segment includes Allete Clean Energy, a leading renewable energy developer, owner, and operator, and U.S. Water Services, a provider of integrated water management solutions to industrial customers. Allete Clean Energy develops, constructs, owns and operates wind, solar, and energy storage projects in the U.S. with the goal of meeting the increasing demand for clean and sustainable energy. U.S. Water Services, on the other hand, provides customized programs and solutions to help customers manage water and energy usage, improve efficiency, and reduce costs.
The Corporate and Other segment includes other businesses and investments, such as Allete Properties, which owns and manages real estate properties, and BNI Energy, a lignite coal mining and production company.
Allete has a strong commitment to sustainability and environmental responsibility. In 2018, the company announced a target to achieve an 80% reduction in greenhouse gas emissions by 2050. As part of this commitment, it has invested in a portfolio of renewable energy projects and is exploring new opportunities to further reduce its carbon footprint.
Furthermore, Allete is committed to serving its communities and supporting various charitable organizations. The company's foundation, the Allete Foundation, provides funding for education, the environment, and health and social services in the communities it serves.
In summary, Allete Inc. is a diversified energy company with a long history of providing energy services to customers in the Midwest, with a strong focus on sustainability, environmental responsibility, community involvement, and charitable giving.
The Regulated Operations segment includes Allete's regulated utilities – Minnesota Power and Superior Water, Light and Power. Minnesota Power provides electricity to over 145,000 customers in northern Minnesota, while Superior Water, Light, and Power provides electricity, natural gas, and water services to customers in Wisconsin. These two regulated utilities are responsible for generating, transmitting and distributing electricity to customers in their respective regions. They own and operate a variety of power plants, transmission lines, and distribution systems.
The Energy Infrastructure segment includes Allete Clean Energy, a leading renewable energy developer, owner, and operator, and U.S. Water Services, a provider of integrated water management solutions to industrial customers. Allete Clean Energy develops, constructs, owns and operates wind, solar, and energy storage projects in the U.S. with the goal of meeting the increasing demand for clean and sustainable energy. U.S. Water Services, on the other hand, provides customized programs and solutions to help customers manage water and energy usage, improve efficiency, and reduce costs.
The Corporate and Other segment includes other businesses and investments, such as Allete Properties, which owns and manages real estate properties, and BNI Energy, a lignite coal mining and production company.
Allete has a strong commitment to sustainability and environmental responsibility. In 2018, the company announced a target to achieve an 80% reduction in greenhouse gas emissions by 2050. As part of this commitment, it has invested in a portfolio of renewable energy projects and is exploring new opportunities to further reduce its carbon footprint.
Furthermore, Allete is committed to serving its communities and supporting various charitable organizations. The company's foundation, the Allete Foundation, provides funding for education, the environment, and health and social services in the communities it serves.
In summary, Allete Inc. is a diversified energy company with a long history of providing energy services to customers in the Midwest, with a strong focus on sustainability, environmental responsibility, community involvement, and charitable giving.
Allete Inc. is a diversified energy company that operates across multiple segments, providing an extensive array of products and services designed to meet the energy needs of residential, commercial, and industrial customers. With a strong commitment to sustainability and innovation, Allete is dedicated to delivering clean, reliable, and affordable energy solutions.
Segments
1. Regulated Operations:
- The Regulated Operations segment encompasses two primary regulated utility companies: Minnesota Power and Superior Water, Light and Power. Together, these entities serve over 145,000 customers throughout the Upper Midwest, offering essential electric and natural gas services.
- Minnesota Power provides electric service to residential and commercial customers and is known for its commitment to renewable energy and initiatives aimed at reducing carbon emissions. The company also offers various rate structures, including options for customers interested in renewable energy sources.
- Superior Water, Light and Power provides natural gas service, contributing to the regions energy infrastructure and reliability.
- Additionally, the ALLETE Clean Energy subsidiary is a vital part of this segment, focusing specifically on the development of wind energy. This involves the construction and operation of wind farms that contribute to the utilitys sustainability goals while also providing clean energy to the grid.
2. ALLETE Clean Energy:
- This segment is dedicated to the development, operation, and sale of renewable energy assets, primarily in the wind energy sector. ALLETE Clean Energys portfolio comprises several wind projects located in seven U.S. states and one in Ontario, Canada, showcasing a strong geographical diversity.
- The company is engaged in joint development partnerships that facilitate the creation of additional renewable energy projects, working closely with both public and private organizations to promote responsible and sustainable energy production. It also explores innovative technology solutions that enhance wind energy generation efficiency.
Products and Services
1. Electric and Natural Gas Services:
- Minnesota Power and Superior Water, Light and Power provide reliable electric and natural gas services tailored for both residential and commercial customers. With a focus on affordability and convenience, customers can select from various rate plans, including time-of-use rates designed to optimize energy consumption costs.
- The utility companies also emphasize customer service, offering support and resources to help customers understand their energy usage and make informed choices about their service options.
2. Renewable Energy Solutions:
- ALLETE Clean Energy is at the forefront of offering renewable energy solutions, particularly in wind energy, for commercial and industrial customers. The company develops customized energy solutions that meet the unique needs of its partners, helping them transition to cleaner energy sources.
- Additionally, businesses have access to contracts for off-site renewable energy, enabling them to achieve their sustainability targets while also benefiting from potentially lower energy costs.
3. Energy Consulting:
- Allete Inc. provides a range of energy consulting services aimed at helping businesses, municipalities, and other organizations enhance energy efficiency and reduce operational costs. Their offerings include comprehensive energy assessments, feasibility studies for renewable energy projects, and strategic planning services that align with customers sustainability goals.
- The company’s consulting team leverages industry expertise to provide actionable insights that help clients manage their energy consumption more effectively.
4. Other Products and Services:
- In addition to its primary offerings, Allete Inc. also provides an array of ancillary products and services designed to enhance energy efficiency and convenience. This includes upgrades for lighting and HVAC systems that help users lower their energy demand and improve comfort levels in their facilities.
- Furthermore, Allete is investing in electric vehicle charging solutions, recognizing the growing demand for electric mobility infrastructure. These charging solutions are part of a broader effort to support the transition to electric vehicles and reduce the carbon footprint of transportation.
Conclusion
Allete Inc. stands out as a comprehensive energy provider with a diverse portfolio that addresses the needs of various customer segments. The companys strong emphasis on sustainability, along with its innovative approach to energy delivery, positions it as a leader in the energy industry. Through its regulated operations, commitment to renewable energy development, and robust consulting capabilities, Allete is dedicated to promoting clean, reliable, and affordable energy solutions that benefit both the environment and the communities it serves.
Segments
1. Regulated Operations:
- The Regulated Operations segment encompasses two primary regulated utility companies: Minnesota Power and Superior Water, Light and Power. Together, these entities serve over 145,000 customers throughout the Upper Midwest, offering essential electric and natural gas services.
- Minnesota Power provides electric service to residential and commercial customers and is known for its commitment to renewable energy and initiatives aimed at reducing carbon emissions. The company also offers various rate structures, including options for customers interested in renewable energy sources.
- Superior Water, Light and Power provides natural gas service, contributing to the regions energy infrastructure and reliability.
- Additionally, the ALLETE Clean Energy subsidiary is a vital part of this segment, focusing specifically on the development of wind energy. This involves the construction and operation of wind farms that contribute to the utilitys sustainability goals while also providing clean energy to the grid.
2. ALLETE Clean Energy:
- This segment is dedicated to the development, operation, and sale of renewable energy assets, primarily in the wind energy sector. ALLETE Clean Energys portfolio comprises several wind projects located in seven U.S. states and one in Ontario, Canada, showcasing a strong geographical diversity.
- The company is engaged in joint development partnerships that facilitate the creation of additional renewable energy projects, working closely with both public and private organizations to promote responsible and sustainable energy production. It also explores innovative technology solutions that enhance wind energy generation efficiency.
Products and Services
1. Electric and Natural Gas Services:
- Minnesota Power and Superior Water, Light and Power provide reliable electric and natural gas services tailored for both residential and commercial customers. With a focus on affordability and convenience, customers can select from various rate plans, including time-of-use rates designed to optimize energy consumption costs.
- The utility companies also emphasize customer service, offering support and resources to help customers understand their energy usage and make informed choices about their service options.
2. Renewable Energy Solutions:
- ALLETE Clean Energy is at the forefront of offering renewable energy solutions, particularly in wind energy, for commercial and industrial customers. The company develops customized energy solutions that meet the unique needs of its partners, helping them transition to cleaner energy sources.
- Additionally, businesses have access to contracts for off-site renewable energy, enabling them to achieve their sustainability targets while also benefiting from potentially lower energy costs.
3. Energy Consulting:
- Allete Inc. provides a range of energy consulting services aimed at helping businesses, municipalities, and other organizations enhance energy efficiency and reduce operational costs. Their offerings include comprehensive energy assessments, feasibility studies for renewable energy projects, and strategic planning services that align with customers sustainability goals.
- The company’s consulting team leverages industry expertise to provide actionable insights that help clients manage their energy consumption more effectively.
4. Other Products and Services:
- In addition to its primary offerings, Allete Inc. also provides an array of ancillary products and services designed to enhance energy efficiency and convenience. This includes upgrades for lighting and HVAC systems that help users lower their energy demand and improve comfort levels in their facilities.
- Furthermore, Allete is investing in electric vehicle charging solutions, recognizing the growing demand for electric mobility infrastructure. These charging solutions are part of a broader effort to support the transition to electric vehicles and reduce the carbon footprint of transportation.
Conclusion
Allete Inc. stands out as a comprehensive energy provider with a diverse portfolio that addresses the needs of various customer segments. The companys strong emphasis on sustainability, along with its innovative approach to energy delivery, positions it as a leader in the energy industry. Through its regulated operations, commitment to renewable energy development, and robust consulting capabilities, Allete is dedicated to promoting clean, reliable, and affordable energy solutions that benefit both the environment and the communities it serves.