Montana-Dakota Utilities files electric price increase request in Montana
BISMARCK, N.D. – September 28, 2018 – Montana-Dakota Utilities Co. today filed an electric price increase request with the Montana Public Service Commission.
“Making a request to increase prices is something we do not take lightly; we do our best to balance the cost to customers with the amount of investments we make to our system to ensure safe and reliable electric service,” said Nicole Kivisto, president and chief executive officer of Montana-Dakota. “The main reason we are asking for a price increase is to recover $68 million in investments we have made since our last price increase request in 2015.”
The proposed increase is for $11.9 million annually over current rates, or a 19 percent overall increase. If approved, it would increase residential customers’ monthly bill by an average of about $16.23 a month.
The investments were necessary to provide safe and reliable service to our 25,770 electric customers in 30 Montana communities, as well as to meet environmental requirements. The investments also carry increased
costs in operation and maintenance expenses, depreciation expense and property taxes. The price increase request was offset by tax savings associated with the Tax Cuts and Jobs Act of 2017.
The Montana PSC has up to 10 months to issue a decision on the proposed increase request.
Montana-Dakota encourages customers to use energy wisely. Conservation tips, information on energy assistance and information on the company’s balanced billing program can be found on Montana-Dakota’s website: www.montana-dakota.com.
Montana-Dakota Utilities Co. distributes natural gas and generates, transmits and distributes electricity and provides related services in the northern Great Plains. The company serves approximately 143,000 electric customers and 272,000 natural gas customers in 262 communities in North Dakota, South Dakota, Montana and Wyoming. Montana-Dakota is a division of MDU Resources Group, Inc., a member of the S&P MidCap 400 index and the S&P High-Yield Dividend Aristocrats index and is Building a Strong America® by providing essential products and services through its regulated energy delivery and construction materials and services businesses. For more information about MDU Resources, see the company’s website at www.mdu.com. For more information about Montana-Dakota, visit www.montana-dakota.com.
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Media Contact: Mark Hanson at (701) 530-1093 or [email protected]