Black Hills Corp. completed its $350 million Ready Wyoming electric transmission project, enhancing service reliability and market access.
Quiver AI Summary
Black Hills Corp. has successfully completed its 260-mile Ready Wyoming electric transmission expansion project, worth $350 million, which was energized and operational by December 2025. This project connects the company's electric systems in South Dakota and Wyoming, ensuring reliable, cost-effective energy for customers while reducing dependence on third-party transmission. The CEO, Linn Evans, emphasized the project's long-term benefits, including cost stability and enhanced access to energy markets. The venture also supports regional economic growth and future energy resource development. Approximately $300 million of the investment will be recovered through the Wyoming Transmission Rider, with an expectation of recovering an additional $50 million through base rates. The project's successful execution within three years was praised by senior executives for their team's dedication and planning efforts.
Potential Positives
- Completion of the $350 million Ready Wyoming electric transmission expansion project enhances the company's infrastructure and reliability in energy delivery.
- The project is expected to maintain long-term cost stability for customers and reduce reliance on third-party transmission.
- This expansion facilitates better access to energy markets and is likely to support local economic growth in Wyoming.
- The project's successful execution showcases the company's operational capabilities and commitment to customer service and community support.
Potential Negatives
- Approximately $300 million of the total transmission investment is being recovered through the Wyoming Transmission Rider, which may raise concerns about cost recovery and its impact on customers’ utility bills.
- The press release includes a caution regarding forward-looking statements, emphasizing inherent risks and uncertainties that could lead to actual results differing materially from expectations, potentially affecting investor confidence.
FAQ
What is the Ready Wyoming electric transmission project?
The Ready Wyoming project is a 260-mile electric transmission expansion connecting electric systems in South Dakota and Wyoming.
How much did the Ready Wyoming project cost?
The total investment for the Ready Wyoming project was $350 million.
When was the Ready Wyoming project completed?
The final phases of the project were completed and energized in December 2025.
What benefits does the Ready Wyoming project provide?
The project enhances system resiliency, cost stability, energy access, and supports local economic growth.
Which states does Black Hills Corp. serve?
Black Hills Corp. serves customers in Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota, and Wyoming.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$BKH Insider Trading Activity
$BKH insiders have traded $BKH stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
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$BKH Revenue
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Wall Street analysts have issued reports on $BKH in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
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- Scotiabank issued a "Sector Outperform" rating on 11/07/2025
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$BKH Price Targets
Multiple analysts have issued price targets for $BKH recently. We have seen 2 analysts offer price targets for $BKH in the last 6 months, with a median target of $72.5.
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- Andrew Weisel from Scotiabank set a target price of $81.0 on 11/07/2025
- Julien Dumoulin-Smith from B of A Securities set a target price of $64.0 on 08/20/2025
Full Release
RAPID CITY, S.D., Jan. 07, 2026 (GLOBE NEWSWIRE) -- Black Hills Corp. (NYSE: BKH) announced that it has completed construction and energized its 260-mile, $350 million Ready Wyoming electric transmission expansion project. The final phases of the project were placed in service on schedule in December 2025 and now interconnects the company’s electric systems in South Dakota and Wyoming.
"This transformative project will benefit our customers for decades to come, supporting our success in providing long-term value by delivering reliable and cost-effective energy to our customers," said Linn Evans, president and CEO of Black Hills Corp. "Ready Wyoming reduces reliance upon third-party transmission and allows us to provide customers with the value of expanded access to energy markets."
The project is expected to maintain long-term cost stability for customers, enhance system resiliency and access to power markets, support local economic growth, and facilitate future development of energy resources in Wyoming.
"Congratulations to our team and partners who did a remarkable job of meticulously planning and successfully executing this complex project to make our vision a reality in only three years since project approval," said Marne Jones, senior vice president and chief utility officer of Black Hills Corp. “This is a testament to our team’s ability to overcome challenges and deliver for our customers and communities."
Approximately $300 million of the total transmission investment is being recovered through the Wyoming Transmission Rider, with approximately $50 million of the remaining distribution investment expected to be recovered through base rates during the next rate review.
Black Hills Corporation
Black Hills Corp. (NYSE: BKH) is a customer-focused, growth-oriented utility company with a tradition of improving life with energy and a vision to be the energy partner of choice. Based in Rapid City, South Dakota, the company serves 1.35 million natural gas and electric utility customers in eight states: Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. More information is available at
www.blackhillscorp.com
.
Investor Relations
Sal Diaz
605-399-5079
[email protected]
24-Hour Media Relations Line
888-242-3969
Caution Regarding Forward Looking Statement
This news release includes “forward-looking statements” as defined by the Securities and Exchange Commission, or SEC. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this news release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements, including the miles and cost of the transmission expansion project. These forward-looking statements are based on assumptions which we believe are reasonable based on current expectations and projections about future events and industry conditions and trends affecting our business. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks and uncertainties that, among other things, could cause actual results to differ materially from those contained in the forward-looking statements, the risk factors described in Item 1A of Part I of our 2024 Annual Report on Form 10-K filed with the SEC, and other reports that we file with the SEC from time to time.
New factors that could cause actual results to differ materially from those described in forward looking statements emerge from time-to-time, and it is not possible for us to predict all such factors, or the extent to which any such factor or combination of factors may cause actual results to differ from those contained in any forward-looking statement. We assume no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/954bb0cb-eed0-4aec-8a46-adbd4c12ed8e
https://www.globenewswire.com/NewsRoom/AttachmentNg/5c649204-c0a5-4b6d-b7b6-150e83f960d5
https://www.globenewswire.com/NewsRoom/AttachmentNg/fd57cafb-80f6-46b9-895b-dcf8994783df
https://www.globenewswire.com/NewsRoom/AttachmentNg/6629af1f-1baa-4c38-b41d-f2999f967da4
https://www.globenewswire.com/NewsRoom/AttachmentNg/c5a1ae2a-21dd-49f2-8fe4-9722f42bb0ec
Video accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/b1c1b0f3-1248-4ff1-abf0-996a92246213
