DULUTH, MN (KDAL) – Minnesota Power has reached a settlement agreement on a proposed rate increase with the Minnesota Department of Commerce and the Attorney General’s Office.
If it is approved by the Minnesota Public Utilities Commission (MPUC), the agreement would set the final rate increase at around 4.9 percent for residential and small business customers and 4.4 percent for industrial and large commercial customers.
The MPUC approved an interim rate increase of 8.6 percent that went into effect in January.
The difference between the interim rate and final rate will be refunded to customers, with interest, through bill credits after final rates are approved.
The MPUC will hold public hearings on the rate proposals this month and will consider approval later this year.
Comments