Minnesota Power/ALLETE’s plan for 2024 will raise interim rates

Minnesota Power/ALLETE’s plan for 2024 will raise interim rates beginning on January 1st

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The Minnesota Public Utilities Commission recently approved Minnesota Power’s request for an interim rate increase. However, the rest of Minnesota Power/ALLETE’s plan for 2024 is still under review.

Amy Rutledge, the Manager of Corporate Communications with Minnesota Power/ALLETE, said the Minnesota Public Utilities Commission have the final decision. If the MN Public Utilities Commission decide the final rates is lower than the current interim rate increase, Minnesota Power will refund the difference to customers.

“So the interim rate increase is 8.6%. Our 2024 rate proposal is calling for a 12% increase,” Rutledge said. “This is really supporting the investments that we are making to advance a clean energy transition. Also the investments we’re making retain and attract a talent and workforce who can develop and execute innovative projects. Which are required to help Minnesota be 100% carbon free by 2040.”

This will go into effect on bills starting January 1st, the interim rate increase, is about eight point six percent. Rutledge said if the Minnesota Power/ALLETE’s plan for 2024 plan is approved, the average residential customer will pay an extra eight dollars on monthly bills.

“This is all dependent on if you use more energy, it would be more. If you use less, it would be less as well,” Rutledge said. “We want to remind our customers that if they are feeling challenged with their monthly bills or struggling to make that payment, that they certainly can reach out to us. We’re really happy to work with them to find a payment plan that will work for them. That’s all part of the cold weather rule that is long as a payment plan is in place with Minnesota Power.”

For more information about the 2024 Proposal you can look here. Also for other stories with Minnesota Power you can read more here.