Minnesota Power Reaches Long-Term Agreement with Municipal Customers

Minnesota Power, an ALLETE company ALE, has reached agreement with 15 Minnesota municipal customers on new wholesale electric service contracts that take effect July 1 and extend through June 30, 2019. The municipal electric service contracts continue using formula-based electric rates authorized by the Federal Energy Regulatory Commission. Taken in total, the municipal contracts of Minnesota Power represent approximately 300 megawatts. Al Hodnik, ALLETE's Chairman, President and Chief Executive Officer, gave much credit for negotiating the new contracts to the Northern Minnesota Electrical Association, a consortium of the utility's municipal customers. “Powering the cities and towns in northern Minnesota is a fundamental part of our business and a significant piece of our energy load, ”Hodnik said. “We greatly value these municipal customers and the strong relationships we've built with them over the years. We're excited they've chosen us as their power provider.“