MON AM News: Evers budget makes nuclear energy push as guv looks for clean options; DFI report shows bank asset growth in 2024

March 10, 2025

— Gov. Tony Evers, who has focused on renewable energy for much of his time in office, is making a push in his latest state budget to look at expanding nuclear power.

That includes calling for $1 million to study siting a new plant and expanding an existing research credit to cover nuclear power.

Evers told WisPolitics in an interview he’s been thinking about bolstering nuclear energy in Wisconsin’s portfolio “frankly for years.” Evers said he remains committed to the state’s push on wind and solar power, but believes a look at nuclear is needed with the coming energy demands.

The Public Service Commission’s Strategic Energy Assessment, published in November, projected a decrease of peak electric demand of about 5% between 2023 and 2024 before an increase of 14.8% thereafter through 2030. According to the report, “The addition of new and expanding customer loads, such as a data center and transportation electrification, are placing upward pressure on Wisconsin’s energy demands within this timeframe.”

“Frankly, we’re going to need more energy. It’s as simple as that,” Evers told WisPolitics. “We want to have it in a way that’s clean. Nuclear is probably one of the ways that we can get this done.”

Evers isn’t walking away from his push for renewable energy sources in this budget, now before the GOP-run Legislature. He included provisions such as $50 million in general purpose revenue in 2025-26 to increase support for the Green Innovation Fund, which would boost lending and investment in the renewable energy sector.

Along with boosting what environmental groups call the “Green Bank,” the guv’s budget would require the Department of Administration to create a grant program for local organizations to promote local climate and clean energy community engagement. He’s also calling for $20 million in 2025-26 to support continuation of the Energy Innovation Grant program that seeks to help investment in projects related to energy efficiency, renewable energy, energy storage and energy planning.

The nuclear push, though, is new. Evers didn’t include any provisions mentioning nuclear power in the previous three budgets he introduced.

Wisconsin’s only nuclear power plant is in Two Rivers, owned and operated by NextEra Energy Resources. One in Carlton closed a dozen years ago. The Two Rivers plant currently generates 5% of the power in Wisconsin. By comparison, among the other zero-carbon energy sources, solar accounts for 9% of production in the state, while 8% comes from wind and 3% from hydropower.

Natural gas continues to account for the largest share of generation capacity at 43% with coal at 29%.

Since the Carlton facility closed, the state in 2016 lifted a moratorium on new nuclear power plants. Some lawmakers have pushed to again consider the option to no avail.

Just ahead of Evers’ budget being released last month, several GOP lawmakers circulated legislation that would require the PSC to conduct a nuclear power siting study and then submit the report to the Legislature no later than 12 months after the bill took effect. The legislation also included a provision that would require the PSC to act on an application for a nuclear plant within 150 days after the submission was completed. Under the proposal, the chair could extend the review period for up to 150 days for good cause.

“An expansion of nuclear power is needed to meet Wisconsin’s growing energy needs,” GOP state Sen. Julian Bradley, one of the bill’s co-sponsors, said in a statement. “I’m glad that the Governor wants to work on this with us. I remain committed to an all-of-the-above approach to powering Wisconsin’s future.”

See the full story at WisPolitics.

— Total assets at state-chartered banks in Wisconsin increased by more than $3 billion in 2024, the Department of Financial Institutions reports.

The agency says these banks reported a “sound financial performance” for last year, as their total assets rose from $67.08 billion to $70.24 billion over the course of 2024. Net loans increased by $2.3 billion over the same period, or 4.66%, reaching $50.7 billion at year’s end.

At the same time, net operating income climbed from $605.6 million to $674.3 million. But the past due ratio for state-chartered banks also rose, from 0.69% in December 2023 to 0.92% at the end of 2024.

Kim Swissdorf, administrator for DFI’s Division of Banking, says banks in Wisconsin have “benefited from improvement in earnings and capital” through last year, showing strategies to manage higher interest rates have been effective.

“While close monitoring of financial and asset quality metrics should continue in light of uncertain economic conditions, the stability of Wisconsin’s state-chartered banks through year-end provides strength to Wisconsin consumers and businesses,” Swissdorf said in a statement.

See the bank figures here.

— U.S. Sen. Ron Johnson says he’s “concerned” about the impacts of President Donald Trump’s tariffs on Wisconsin.

“I’m concerned about retaliation against Wisconsin manufacturers, against builders, against farmers,” Johnson said in a WisPolitics Capitol Chats podcast interview before Trump pulled back on some tariffs. “I’m concerned about the potential inflationary impact of that.”

But the Oshkosh Republican praised Elon Musk’s cost-cutting actions. He said the government spends too much, and it needs to return to a “reasonable pre-pandemic level of spending.”

Listen to the podcast, recorded on Tuesday.

— The number of flu-related hospitalizations in Wisconsin has dropped after peaking in early February, according to a newly launched Department of Health Services dashboard.

The agency on Friday announced a new site tracking respiratory disease hospitalizations, which includes figures on influenza, COVID-19 and RSV.

As of March 1, the latest date for which figures are available, the age-adjusted rate of flu hospitalizations for the prior week had dipped to nine cases per 100,000 residents. That’s down from 14.5 cases on Feb. 8, the site shows.

Over the same period, RSV hospitalizations have remained fairly stable, going from 3.1 cases to 2.9 cases per 100,000 population at latest count. And COVID-19 hospitalizations have fallen slightly, from 2.8 cases to 1.8 cases.

The dashboard also breaks down some hospital figures by age group, showing flu-related hospitalizations have been more common those age 65 and older at 29.9 cases per 100,000 population. For all other age ranges, that figure ranges from 2.1 to 6.4.

For more of the most relevant health care news, reports on groundbreaking research in Wisconsin, links to top stories and more, sign up today for the free daily Health Care Report from WisPolitics and WisBusiness.com.

Sign up here.

— Fincantieri Marinettte Marine has announced Jan Allman as the company’s next CEO, with previous leader Mark Vandroff moving to a role with parent company Fincantieri Marine Group in Washington, D.C.

Allman has been vice president and general manager of Fincantieri Bay Shipbuilding since April 2023, and previously served in public affairs, community relations and leadership roles with the company, according to the release.

Marco Galbiati, CEO of Fincantieri Marine Group, says Allman has spent “many years” overseeing the production of Freedom-class littoral combat ship, one of two classes of near-shore ships built for the U.S. Navy.

See the release.

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