Black Hills Corporation energized its 260‑mile, $350 million Ready Wyoming transmission line on January 7 2026, after the line had been placed in service in December 2025. The new corridor connects the company’s electric systems in South Dakota and Wyoming, creating a dedicated path for power flow between the two states.
The completion of the Ready Wyoming line strengthens system resiliency by providing an alternative route that reduces dependence on third‑party transmission. It also opens access to broader power markets, allowing Black Hills to offer customers more reliable and cost‑effective supply options. The project is a key enabler for the company’s data‑center growth strategy, which is expected to contribute more than 10 % of earnings per share by 2028 as the firm expands its hyperscale contracts in the region.
Financially, the company will recover roughly $300 million of the $350 million investment through a Wyoming Transmission Rider, with the remaining $50 million expected to be recovered via base‑rate adjustments in the next rate review. The regulatory approval of these recovery mechanisms demonstrates Black Hills’ ability to secure cost recovery for large infrastructure investments, a critical factor for maintaining long‑term profitability in a regulated environment.
The Ready Wyoming line is part of Black Hills’ $4.7 billion capital plan for 2025‑2029 and supports the firm’s broader strategy to invest in high‑growth data‑center markets. The company’s partnership with Meta to power a new Wyoming data center underscores the strategic importance of the transmission corridor, as reliable capacity is essential for meeting the power demands of hyperscale facilities.
CEO Linn Evans said the project “will benefit our customers for decades to come, supporting our success in providing long‑term value by delivering reliable and cost‑effective energy.” Senior Vice President and Chief Utility Officer Marne Jones praised the team’s execution, noting the line was completed in only three years since approval and that the project “makes our vision a reality.”
Analysts have set price targets for Black Hills at $72.5 median, with a $81.0 target from Scotiabank and a $64.0 target from B of A Securities. The company’s performance and the completion of the Ready Wyoming line have reinforced analyst confidence in its regulated utility model and data‑center growth prospects.
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