Black Hills Corp. Natural Gas Utility Requests Rate Review and Rider Renewal in Wyoming
May 18 2023 - 4:36PM
Black Hills Corp. (NYSE: BKH) today announced that its Wyoming
natural gas utility, Black Hills Wyoming Gas, LLC, doing business
as Black Hills Energy, filed a rate review application with the
Wyoming Public Service Commission requesting $19.3 million in new
annual revenue.
Black Hills Energy has invested over $140 million
in safety, system integrity and reliability for its more than
6,400-mile natural gas utility system in Wyoming since its last
rate review in 2019. These critical investments were required to
ensure the safe and reliable delivery of natural gas and
transportation services and meet compliance requirements of state
and federal regulations.
“This rate review supports our ability to maintain
the reliable, safe and resilient natural gas service our customers
depend upon, especially during cold weather experienced in
Wyoming,” said Linn Evans, president and CEO of Black Hills Corp.
“Ongoing investments in our system and excellent operational
execution by our team allow us to deliver for the growing needs of
our Wyoming customers and communities.”
As proposed, the rate review requests a capital
structure of 52% equity, 48% debt and a return on equity of 10.49%.
Black Hills Energy is seeking to implement new rates during the
first quarter of 2024. The company is also seeking renewal of its
Wyoming Integrity Rider to recover the costs of investments for
integrity management programs designed to improve system
reliability and safety.
Black Hills Corporation
Black 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 RelationsJerome 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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