Black Hills Corp. Natural Gas Utility Requests Rate Review in Colorado
09 May 2023 - 10:45PM
Black Hills Corp. (NYSE: BKH) today announced that its Colorado
natural gas utility, Black Hills Colorado Gas, Inc., doing business
as Black Hills Energy, filed a rate review application with the
Colorado Public Utility Commission requesting $26.7 million in new
annual revenue.
Black Hills Energy has invested approximately $140 million in
system safety, integrity and reliability for more than 10,000 miles
of natural gas utility infrastructure in Colorado since its last
rate review request in 2021. These critical investments ensure the
safe and reliable delivery of natural gas and transportation
services and meet compliance requirements of state and federal
regulations.
“This rate review request supports our ability to serve our
Colorado customers with, safe, reliable and clean natural gas
service,” said Linn Evans, president and CEO of Black Hills Corp.
“Our investments support a resilient natural gas system with lower
emissions to achieve our emissions reduction targets, which support
Colorado’s clean energy goals. We are very mindful of customer bill
impacts and are focused on cost-effective service and ways to help
reduce volatility in bills.”
As proposed, the rate review requests a capital structure of 51%
equity, 49% debt and a return on equity of 10.49%. Black Hills
Energy is seeking to implement new rates during the first quarter
of 2024.
Black Hills CorporationBlack Hills Corp. (NYSE:
BKH) is a customer focused, growth-oriented utility company with a
tradition of improving life with energy and a vision to be the
energy partner of choice. Based in Rapid City, South Dakota, the
company serves 1.33 million natural gas and electric utility
customers in eight states: Arkansas, Colorado, Iowa, Kansas,
Montana, Nebraska, South Dakota and Wyoming. More information is
available at www.blackhillscorp.com and
www.blackhillsenergy.com.
Investor RelationJerome E.
Nichols605-721-1171jerome.nichols@blackhillscorp.com
24-hour Media Assistance888-242-3969
Caution Regarding Forward Looking StatementThis
news release includes “forward-looking statements” as defined by
the Securities and Exchange Commission, or SEC. We make these
forward-looking statements in reliance on the safe harbor
protections provided under the Private Securities Litigation Reform
Act of 1995. All statements, other than statements of historical
facts, included in this news release that address activities,
events or developments that we expect, believe or anticipate will
or may occur in the future are forward looking statements,
including anticipated revenues from the new rate increase and
ability to deliver an appropriate return to investors. These
forward-looking statements are based on assumptions which we
believe are reasonable based on current expectations and
projections about future events and industry conditions and trends
affecting our business. However, whether actual results and
developments will conform to our expectations and predictions is
subject to a number of risks and uncertainties that, among other
things, could cause actual results to differ materially from those
contained in the forward-looking statements, the risk factors
described in Item 1A of Part I of our 2022 Annual Report on Form
10-K filed with the SEC, and other reports that we file with the
SEC from time to time.
New factors that could cause actual results to differ materially
from those described in forward looking statements emerge from
time-to-time, and it is not possible for us to predict all such
factors, or the extent to which any such factor or combination of
factors may cause actual results to differ from those contained in
any forward-looking statement. We assume no obligation to update
publicly any such forward-looking statements, whether as a result
of new information, future events or otherwise.
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