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Minnesota Power Seeks Rate Hike

Minnesota Power Seeks Rate Hike Photo: WDIO-TV file

Created: November 01, 2019 10:57 PM

Minnesota Power is asking state regulators to approve a rate hike for residential and small business customers.

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The company is asking the Minnesota Public Utlities Commission to increase its annual operating revenue by $65.9 million.  The proposed rate average increase for residential customers would amount to $11.66 per month, while the increase for average small businesses would be $30.05 per month.

Minnesota Power says average residential bills would still be below state and national averages.

The company, a division of Allete, says the request reflects changes in demand, increases in operating expenses, and recovery of costs associated with regulatory obligations, and says in a news release that the rate increase will allow it "to continue its commitment to deliver safe, reliable energy from increasingly cleaner sources."

"We are pleased with the continued success of our EnergyForward strategy that ensures reliable and safe energy for customers as we transform the way energy is produced and delivered," Allete President Bethany Owen said in a news release. "Minnesota Power is on pace to reach 50 percent renewable energy by 2021, a remarkable accomplishment given that we currently offer the lowest average electric rates for residential customers in Minnesota."

The company is asking regulators to allow an interim rate increase of 7.7% beginning in January, which would remain in effect until a final decision is made.

Copyright 2019 WDIO-TV LLC, a Hubbard Broadcasting Company. All rights reserved

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