U.S. Markets closed

ALLETE, Inc. (ALE)


NYSE - NYSE Delayed Price. Currency in USD
Add to watchlist
71.99-0.35 (-0.48%)
At close: 4:02PM EDT

71.99 -0.01 (-0.01%)
After hours: 4:02PM EDT

People also watch
LNTAVABKHIDAWR

ALLETE, Inc.

30 West Superior Street
Duluth, MN 55802
United States
218-279-5000
http://www.allete.com

SectorUtilities
IndustryDiversified Utilities
Full Time Employees1,930

Key Executives

NameTitlePayExercisedAge
Mr. Alan R. HodnikChairman, Pres & Chief Exec. Officer1.18MN/A57
Mr. David J. McMillanSr. VP of External Affairs & Exec. VP of Minnesota Power461.49kN/A55
Ms. Deborah A. AmbergSr. VP, Chief Strategy Officer of Regulated Ops and Pres of Superior Water, Light & PowerN/AN/A51
Mr. Steven Q. DeVinckSr. VP597.37kN/A57
Mr. Bradley W. OachsSr. VP & Pres of Regulated Operations481.73kN/A59
Amounts are as of December 31, 2016 and compensation values are for the last fiscal year ending on that date. Pay is salary, bonuses, etc. Exercised is the value of options exercised during the fiscal year. Currency in USD.

Description

ALLETE, Inc. operates as an energy company. The company operates through three segments: Regulated Operations, ALLETE Clean Energy, and U.S. Water Services. It generates electricity from coal-fired, natural gas-fired, biomass co-fired, hydroelectric, wind, solar, and other sources. The company provides regulated electric, natural gas, and water services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric service in northeastern Minnesota to approximately 145,000 retail customers and 16 non-affiliated municipal customers. It also owns and maintains electric transmission assets in Wisconsin, Michigan, Minnesota, and Illinois. In addition, the company focuses on developing, acquiring, and operating clean and renewable energy projects; and owns and operates approximately 535 MW of nameplate capacity wind energy generation that are under power sales agreements. Further, it offers integrated water management for industry by combining chemical, equipment, engineering, and service for customized solutions to reduce water and energy usage. Additionally, the company is involved in the coal mining operations in North Dakota; and real estate investment activities in Florida. The company owns and operates 165 substations with a total capacity of 8,396 megavolt amperes. It serves taconite mining, iron concentrate, paper, pulp and wood products, and pipeline industries. The company was founded in 1906 and is headquartered in Duluth, Minnesota.

Corporate Governance

ALLETE, Inc.’s ISS Governance QualityScore as of July 1, 2017 is 1. The pillar scores are Audit: 1; Board: 3; Shareholder Rights: 2; Compensation: 2.

Corporate governance scores courtesy of Institutional Shareholder Services (ISS). Scores indicate decile rank relative to index or region. A decile score of 1 indicates lower governance risk, while a 10 indicates higher governance risk.