Minnesota Power rates will increase in January
On Thursday, the Minnesota Public Utilities Commission (MPUC) approved interim rates for Minnesota Power customers. This is the first step of a longer process to evaluate the company’s recently filed electric rate proposal.
The approved overall interim rate increase will be about 8.6%.
With this change, monthly bills for the average residential customer will increase by about $8 according to Minnesota Power.
“We appreciate the MPUC’s approval of interim rates and their recognition that we have a lot of
hard work and investment in front of us, and that our employees are critical to accomplishing our
state’s carbon-free goals,” said Vice President of Regulatory and Legislative Affairs Jennifer Cady.
“During the open rate review process over the coming months, we will be listening to input from our
customers and stakeholders as we prepare for the next phase of our EnergyForward transition to a
carbon-free energy supply. This rate request is essential for Minnesota Power’s ability to make the
best investments, including in our workforce, to achieve these carbon-free goals while maintaining
safe, reliable and affordable energy for our customers.”
Interim rates will begin in January and remain in effect until final rates are decided. Minnesota Power expects final rates will be set in early 2023.