Minnesota Power seeks rate shift to help global industrial customers
Monday, November 16, 2015
Minnesota Power seeks to reduce electric rates for some of its largest industrial users while adding a monthly charge on smaller commercial users and raising residential rates.
The utility, a division of ALLETE Inc., said the reduced rate will assist critical industrial companies “uniquely exposed to global competitive pressures.”
The 2015 Minnesota Legislature enacted a law authorizing Minnesota Power to submit discounted rate plans for a limited number of its large industrial customers including taconite mines and forest product industries that meet state criteria as energy-intensive and trade-exposed (EITE) businesses.
“For these large industrial companies that employ thousands of people in our region, energy is one of their largest costs of doing business,” explained Dave McMillan, Minnesota Power executive vice president. “Global competition is intense and we need to do all we can to keep their energy costs as competitive as possible. Sustaining a healthy regional economy, which benefits everyone who lives here, is an important part of Minnesota Power’s mission.”
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