Minnesota Power, an ALLETE company, has filed a rate adjustment request with the Federal Energy Regulatory Commission (FERC) seeking an increase in the electric rates of its wholesale customers. Minnesota Power has not asked for a wholesale rate adjustment since 1995.
‘This rate adjustment would acknowledge our increased costs of providing service to wholesale customers, including general operation and maintenance expenses, while integrating environmental compliance, renewable generation and transmission asset additions,’ says Don Shippar, ALLETE chairman, president and CEO.
This request applies only to Minnesota Power's 16 municipal customers and two private utilities in Wisconsin, including Superior Water, Light & Power Co. The requested increase is approximately 10% for municipal customers and approximately 12.5% for Superior Water, Light & Power Co.
Minnesota Power anticipates the rate adjustment will result in an annual revenue increase of approximately $7.5 million. Minnesota Power has asked FERC for interim rates to take effect by March 1, 2008 and expects FERC approval of final rates by late 2008 or early 2009.
Retail customers of Minnesota Power who receive their bill directly from the company are not included in this rate request.
