Date of Graduation

Spring 5-23-2026

Document Access

Project/Capstone - Global access

Degree Name

Master of Science in Energy Systems Management

College/School

College of Arts and Sciences

Department/Program

Energy Systems Management

First Advisor

Dr. Jim Williams

Second Advisor

Joshua Spooner

Third Advisor

Austin Krause

Abstract

This report presents a long-term resource plan for NorthWestern Energy (NWE) to meet future demand cost-effectively while evaluating decarbonization impacts on customer rates. Serving approximately 65,000 retail electric customers in eastern South Dakota, NWE operates a summer-peaking system (348 MW peak in 2024; $0.15/kWh average rate). With coal providing 51% of 2024 generation, NWE's carbon intensity (~584 kg CO₂/MWh) sits 55% above the national average. Amid planned coal retirements and rising demand, NWE faces an accredited capacity shortfall of ~452 MW by 2050.

The study evaluates four core questions:

  • What is the least-cost portfolio to satisfy future demand?
  • Can the utility maintain low rates while cutting CO₂ emissions by 85%?
  • How does achieving net-zero by 2050 alter rates compared to a reference case?
  • How would introducing nuclear generation by 2034 to serve data center demand affect customer costs?

Using a 2024–2050 modeling horizon, the analysis examines three core scenarios and one nuclear sensitivity starting from baseline load, existing assets, and a 15% planning reserve margin. Candidate resources include combined-cycle gas (CCGT), combustion turbines (CT), wind, solar, and battery storage. The Net Zero pathway also permits CCGT with carbon capture and hydrogen-retrofitted CTs. Financial assumptions incorporate NREL’s 2024 Annual Technology Baseline (6.81% WACC) and EIA fuel price forecasts for the SPP region.

NWE-SD_Final_IRP Presentation.pptx (5005 kB)
Masters IRP Presentation

NWE-SD-BAU-Final-Transparent Graphs.xlsx (23823 kB)
Stack Model-Business As Usual BAU

NWE-SD-85% Clean-Final.xlsx (29973 kB)
Stack Model-85% Clean

NWE-SD-85% Clean Nuclear-Final.xlsx (30126 kB)
Stack Model-85% Clean with Nuclear as a resource

NWE-SD-Net Zero-Final-Transparent Graphs.xlsx (25650 kB)
Stack Model-Net Zero

NWE-SD-NetZero Nuclear-Final.xlsx (30187 kB)
Stack Model-Net Zero with Nuclear as a resource

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