RAPID CITY, S.D. — Black Hills Corp. (NYSE: BKH) today announced that its Wyoming electric utility, Cheyenne Light, Fuel and Power Company, doing business as Black Hills Energy, filed a rate review application with the Wyoming Public Service Commission requesting $15.4 million in new annual revenue.
Since the company’s last general rate filing in 2013, Black Hills Energy has invested approximately $250 million in safety, reliability and system integrity for more than 1,330 miles of electric distribution and 59 miles of electric transmission lines, which serve approximately 44,000 electric customers in Cheyenne.
“This rate review request reflects our long-standing commitment to our customers and to the greater Cheyenne community to deliver safe and reliable service,” said Linn Evans, president and CEO of Black Hills Corp. “This investment in our system, combined with excellent operational execution by our team, supports our ability to deliver top-quartile reliability to our Cheyenne customers. This investment is also essential to our ability to meet our customers’ demands for energy, while also preparing to meet steady economic growth in Cheyenne.”
As proposed, the rate review requests a capital structure of 54% equity, 46% debt and a return on equity of 10.3% for investments the company has made in its electric system in Cheyenne. Black Hills Energy is seeking to implement new rates in the first quarter of 2023.
