The Muscatine Power and Water (MPW) Board of Trustees held its monthly meeting on January 27, where Utility leaders presented year-end updates on strategic initiatives and reviewed financial performance. Highlights included progress on the Powering the Future initiative, reliability improvements, staff development and community engagement. MPW reports a strong finish to 2025, paving the way for continued progress in 2026.
The end of year report out to the Board sets the stage for ongoing updates on major projects and initiatives affecting residents, businesses and industries starting with a summary of 2025 initiatives in the next issue of MPW News, included with February billing statements; MPW’s Annual Report with financial summary; and MPW’s annual Power Breakfast, scheduled for early March.
General Manager, Gage Huston praised the Utility’s progress and the dedication of MPW employees. “I continue to be impressed by the dedication and expertise of our team,” Huston said. “Because of their efforts, we’re entering the new year well positioned for continued progress and prepared to deliver on the initiatives that matter most to our community.”
EcoGen 10 reached a major milestone with the Iowa Utilities Commission issuing a final order granting the permit needed for the installation of a new natural gas pipeline to serve the project. With the permit secured, MPW is working with financial partners to issue bonds for EcoGen 10 construction and other projects.
“While some EcoGen 10 activities have already commenced, this approval allows us to shift project development into full gear,” Huston said. “EcoGen 10 is a critical investment in Muscatine’s energy future, and we’re eager to continue this work that will benefit the community for decades to come.”
The financial results for December were close to expectations. An MPW net loss for the month of $949,000 was $86,000 higher than the expected net loss. Importantly, the unaudited results for the 2025 calendar year show net income of $13.9 million that is $10.3 million above budget and $11.1 million above 2024 results. That sharp difference is due to several factors, with the largest reason being the settlements received and to be received from MPW’s participation in a class-action lawsuit related to PFAS (per and polyfluoroalkyl substances). The positive impact on net income in 2025 is approximately $8.4 million.
Mark Roberts, director of finance and administrative services, also noted December was the fourth month of energy adjustment clause (EAC) credits with those credits to continue through February. The February credit will be just over 0.3¢/kWh. Roberts stated, “The continued credits reflect favorable Midcontinent Independent System Operator market conditions and reliable operation of MPW’s largest generation unit, all to the benefit of MPW’s customers in keeping electric rates low.”
In other business, the Trustees:
• Approved payment for December 2025 expenditures and transactions for a total of $12,143,703.67.
• Authorized Staff to enter into Phase 2 agreements with Eide Bailly for tax credit compliance support for the Muscatine Solar 1 (MS1) and Muscatine Solar 2 (MS2) projects, with expenditure authority of $300,000 for MS1 and $350,000 for MS2.
• Approved the Communications, Electric, and Water Utility Reimbursement Resolutions.
• Approved a change in the date of the December 2026 Board of Trustees meeting to Thursday, December 17, 2026.
Submitted by Nick Mussehl.
