ALLETE, Inc. · Duluth, MN United States ·(NYSE: ALE)
Company Description
Phone: 218-279-5000
Fax: 218-720-2502
Rankings
- S&P 600
View ALLETE, Inc. Locations On A US Map
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This link will open in a new window ALLETE provides light to the northern climes. Most of its business is classified within its regulated operations, which include electric, gas, and water utilities located in northeastern Minnesota and northwestern Wisconsin. Those operations are conducted through subsidiaries Minnesota Power (140,000 customers) and Superior Water, Light and Power (about 35,000 customers for its electric, gas, and water utilities). Allete's other segment includes coal mining operations, emerging technologies related to electric utilities, and a real estate business (large land tracts in Florida). Subsidiary BNI Coal operates a mine in North Dakota that supplies, primarily, two generating co-ops, Minnkota Power and Square Butte. To read the full description, subscribe now.
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Key ALLETE, Inc. Financials
| Company Type | Public - NYSE: ALE Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $801.0 |
| 2008 Employees | 1,529 |
ALLETE, Inc. Executives
28 executives listed for ALLETE, Inc.'s Duluth, MN location.
| Title | Name & Bio | Contact |
| Chairman and CEO | Donald Shippar | Network |
| President and Director | Alan Hodnik | Network |
| SVP and CFO | Mark Schober | Network |
Competition
Competitive Landscape for ALLETE, Inc.
Demand for electricity is driven by industrial and commercial activity and by population growth. The profitability of individual companies depends on the efficiency of their operations. Large companies have economies of scale in purchasing power; small companies can compete effectively by specializing in geographic regions. The industry is capital-intensive: average annual revenue per worker is about $2 million. The traditional electricity industry consisted of investor-owned utilities, municipal utilities, cooperatives, and government entities that owned the generation, transmission, and retail distribution facilities within a limited area and served all customers within that area as tightly regulated "natural monopolies." Though "natural monopolies" still exist, the electric energy industry in the US underwent a restructuring driven by changes in federal and state laws in the 1990s. In restructured, or deregulated, markets, generation, transmission, and distribution operations are carried out by separate companies, and the owners of local distribution lines make their lines available to competitors. The intended purpose of moving toward a less regulated electricity market was to decrease the cost of electricity by fostering competition among producers. One practical effect was the divestment of generation facilities by many investor-owned utilities. Despite the popularity of restructuring activities initially, as of mid-2009 only 14 states had deregulated their electricity industries. Several other states, including California, launched restructuring initiatives before suspending them, in part because of concerns that restructuring caused electricity rates to rise. Many local electricity distributors are still owned by utility holding companies that also own power generation facilities, wholesale transmission lines, and wholesale power trading companies. To read the full description, subscribe now.Top ALLETE, Inc. Competitors
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