Minnesota Public Utilities Commission Approves Cooperatives’ Acquisition of Interstate Power & Light
Posted on May 4, 2015 in Mergers/Acquisitions, Rates | Comments Off on Minnesota Public Utilities Commission Approves Cooperatives’ Acquisition of Interstate Power & Light
On April 30, 2015 the Minnesota Public Utilities Commission (MPUC) approved the sale of Interstate Power & Light (IPL), a privately-owned utility, to 12 cooperative utilities for $112 million. Most of the coops have higher electric rates than IPL, so the acquisition will mean higher prices for the 43,000 IPL customers, but the MPUC will monitor a plan that bars any increase in former IPL customers’ basic rates for three years and limits increases for two additional years. Read more about the sale here.
