RAPID CITY, SD, June 01, 2022 (GLOBE NEWSWIRE) — Black Hills Corp. (NYSE: BKH) today announced that its Wyoming electric utility, Cheyenne Light, Fuel and Power Company, doing business as Black Hills Energy, has filed an application to review the application with the Commission of the Wyoming civil service asking for $15.4 million in new annual revenue.
Since the company’s last general tariff filing in 2013, Black Hills Energy has invested approximately $250 million in system safety, reliability and integrity for more than 1,330 miles of electrical distribution and 59 miles of power lines. electric transmission, which serve approximately 44,000 electric customers in Cheyenne.
“This rate review request reflects our long-standing commitment to our customers and the greater Cheyenne community to provide 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 first-quartile reliability to our Cheyenne customers. This investment is also critical to our ability to meet the energy demands of our customers. , while preparing to respond to steady economic growth in Cheyenne.
As proposed, the rate review calls for a capital structure of 54% equity, 46% debt and a return on equity of 10.3% for the investments the company has made in its electricity system at Cheyenne. Black Hills Energy is looking to implement new tariffs in the first quarter of 2023.
Black Hills Society
Black Hills Corp. (NYSE: BKH) is a customer-focused, growth-oriented utility company with a tradition of improving lives through energy and a vision to be the energy partner of choice. Based in Rapid City, South Dakota, the company serves 1.3 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.
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Caution Regarding Forward-Looking Statements
This press release contains “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 by the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included in this press release that address activities, events or developments that we anticipate, believe or anticipate will or may occur in the future are forward-looking statements, including anticipated revenue from further rate increases. These forward-looking statements are based on assumptions that we believe are reasonable based on current expectations and projections regarding future events and industry conditions and trends affecting our business. However, whether actual results and developments will conform to our expectations and forecasts is subject to a number of risks and uncertainties which, among other things, could cause actual results to differ materially from those contained in forward-looking statements, the risk factors described in Item 1A of Part I of our 2021 Annual Report on Form 10-K filed with the SEC, and other reports we file from time to time with the SEC .
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