Minnesota Power has Filed Electric Rate Review Request
Asking MPUC for a rate increase of $55 million
Minnesota Power today filed a rate review request with the Minnesota Public Utilities Commission (MPUC), asking for a rate increase of $55 million to support infrastructure investments, efficiency upgrades, and business expenses.
The request is related to Minnesota Power’s EnergyForward capital investments, which include upgrades to transmission and distribution infrastructure, measures to protect against extreme weather events and enable the safe integration of renewable resources, as well as the continuation of efficiency and environmental improvements at the company’s power plants.
If approved by MPUC, a residential customer’s monthly bill would see an increase of $6.00 when the rates take effect on January 1, 2017, and a small business customer’s monthly bill would increase by $22.00.
Minnesota Power has requested the MPUC to also review the rate alignment for all customer classes to reflect the actual costs of serving those individual groups. After cost analysis, residential customer rates would need to increase by approximately 35-percent to cover the actual cost of producing and delivering their energy.
If the MPUC agrees with the overall assessment of cost allocation on its system, residential customers will see an additional 10-percent increase in early 2018, meaning that the average monthly increase for residents would be $15.00 and $28.00 for small businesses.
Minnesota Power has established a special website, www.mnpower.com/2016RateReview where customers can get more information and submit questions.