{"id":29212,"date":"2014-08-22T09:11:31","date_gmt":"2014-08-22T13:11:31","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=29212"},"modified":"2014-08-22T09:11:31","modified_gmt":"2014-08-22T13:11:31","slug":"black-hills-corp-nysebkh-subsidiary-gets-permission-to-increase-electric-rates-in-wyoming","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/black-hills-corp-nysebkh-subsidiary-gets-permission-to-increase-electric-rates-in-wyoming-29212","title":{"rendered":"Black Hills Corp (NYSE:BKH) Subsidiary Gets Permission To Increase Electric Rates In Wyoming"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 08\/22\/2214 (wallstreetpr) \u2013 A diversified energy company, <strong>Black Hills Corp (NYSE:BKH)<\/strong> said that its utility unit, Black Hills Power, has been granted permission to increase electric rates in Wyoming. The permission has been given by Wyoming Public Service Commission after a settlement agreement with the company.<\/p>\n<p style=\"text-align: justify;\"><strong>Settlement Deal<\/strong><\/p>\n<p style=\"text-align: justify;\"><a href=\"http:\/\/finance.yahoo.com\/news\/black-hills-corp-utility-subsidiary-131602654.html\" target=\"_blank\">The company<\/a> had disclosed that the settlement deal that Black Hills Power struck with Wyoming Office of Consumer Advocate would allow its subsidiary to enforce new rates for its consumers in Wyoming from October 1. Incidentally, Cheyenne Prairie Generating Station has also been scheduled for in-service on the same date.<\/p>\n<p style=\"text-align: justify;\">The revised rates would become apply for the 2.7K customers of electric service utility in Wyoming. The company also caters to the electric needs of about 65.5K consumers in South Dakota.<\/p>\n<p style=\"text-align: justify;\"><strong>Estimated Revenue<\/strong><\/p>\n<p style=\"text-align: justify;\">The revised rates would allow the company to generate additional projected revenue of $2.2 million a year. The Black Hills Corp (NYSE:BKH) said that it was based on return on equity, capital structure and debt of 9.9%, 53.3% and 46.7% respectively.<\/p>\n<p style=\"text-align: justify;\">Black Hills Corp (NYSE:BKH) said that the decision of Wyoming PSC enables its subsidiary to get a return of its part of the investment in the Cheyenne Prairie station of 132-megawatt and the related and committed infrastructure to take care of Wyoming customers\u2019 utility requirements. It indicated that the revenues to be generated from the new rates would also be utilized to cover infrastructure investments apart from higher operational costs in Wyoming.<\/p>\n<p style=\"text-align: justify;\"><strong>Management Speaks<\/strong><\/p>\n<p style=\"text-align: justify;\">Black Hills Corp (NYSE:BKH) President and Chief Operating Officer of Utilities, Linn Evans, said that the company\u2019s objective was to offer reliable, safe, and cost-effective energy to its customers. At the same time, he said, the company would also keep in mind its duty to deliver proper returns to its investors.<\/p>\n<p style=\"text-align: justify;\">He had also disclosed that his company was committed to producing electricity at a reasonable price through cost control and responsible investments. Evans said that there could be long-term gains after the Cheyenne Prairie station becomes functional.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 08\/22\/2214 (wallstreetpr) \u2013 A diversified energy company, Black Hills Corp (NYSE:BKH) said that its utility unit, Black Hills Power, has been granted permission [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":29216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[8274,8273,8272,8275],"stock_ticker":[],"class_list":["post-29212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-black-hills-corp","tag-black-hills-corp-nysebkh","tag-linn-evans","tag-nysebkh","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - 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