Regulators OK Minnesota Power interim rate hike
Minnesota Power has the green light for an interim rate hike, but not as much as the Duluth-based electric utility wanted.
Minnesota Power wanted an interim increase of $73 million while it requests a permanent rate hike. But the Minnesota Public Utilities Commission approved about two-thirds of that request, or $48.5 million.
Residential customers of Minnesota Power will see their electric bills rise an average of $7 a month in 2010. The rates will remain higher until the commission rules on the permanent request of an $80 million rate hike.
A Minnesota Power spokeswoman says the higher rates are needed because of the utility's investments in infrastructure and renewable energy. But the PUC approved the smaller increase because of the recession and a Minnesota Power rate increase in November.
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Information from: Duluth News Tribune
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