Follow the Money

This page is about documented corporate structure, financial interests, and regulatory treatment - not personal accusations. We invite MGS and its parent companies to respond to and clarify any of the information below.

OWNERSHIP AND CORPORATE STRUCTURE

FACT: Midcontinent Grid Solutions (MGS) was formed by Transource Energy and an affiliate of Berkshire Hathaway Energy (BHE U.S. Transmission). (Source: MGS project website; transourceenergy.com/about.)

FACT: Transource Energy is a partnership between American Electric Power (AEP) and Evergy. Transource states that AEP owns 86.5% and Evergy owns 13.5% of Transource. (Source: transourceenergy.com/about.)

FACT: BHE U.S. Transmission describes itself as a developer and owner of high-voltage transmission investments, and is affiliated with Berkshire Hathaway Energy. MGS Wisconsin is the subsidiary identified to develop, own, and operate the Wisconsin portions of the project.

THE MONEY

FACT: AEP's annual filing states that MISO-selected MGS projects are estimated at approximately $1.2 billion, with Transource Energy's estimated share at approximately $600 million. (Source: AEP annual filing; verify current figures against AEP's most recent SEC filing before citing a specific dollar amount, as estimates can change as projects develop.)

QUESTIONS WE ARE ASKING

• Who ultimately pays the estimated $1.2 billion investment, and how are costs allocated between Wisconsin ratepayers and the broader MISO footprint?

• What happens financially - to MGS, to its parent companies, and to ratepayers - if BECI is proposed but is not ultimately constructed, or is built at a different scope than currently studied?

• What financial or rate incentives apply to MGS's requested capital structure, and how do they shift risk between investors and ratepayers?

THE FERC RATE PROCEEDING

FACT: FERC Docket ER26-2376 addresses transmission rate incentives for Midcontinent Grid Solutions Wisconsin, LLC. In a joint concurrence dated June 26, 2026, Chairman Laura Swett and Commissioner David Rosner concurred with the Commission's order but wrote separately that it is "increasingly obvious that a key barrier to energy infrastructure buildout in this country is fostering public trust that particular projects are needed," and that "project sponsors can and should do more to explain how their projects...will provide reliable power and save consumers money." (Source: ferc.gov, Docket No. ER26-2376-000.)

ANALYSIS: We present this as the commissioners' own language on transparency and consumer benefit in transmission rate incentives generally. It is not a finding by FERC that BECI is unnecessary, and we do not characterize it that way.

ON BERKSHIRE HATHAWAY

ANALYSIS: Berkshire Hathaway Energy is a large, well-known company with publicly stated commitments regarding communities and stewardship. We think it is fair corporate accountability to ask BHE U.S. Transmission and Berkshire Hathaway Energy to explain how BECI's proposed routing and community engagement reflect those stated commitments. We do not claim that any individual person "chose" a specific route, and we do not make unsupported accusations of hypocrisy - we simply invite the company to respond to the questions on this page and on our "Questions MGS Must Answer" page.