Black Hills Corp. Natural Gas Utility Requests Rate Review in Arkansas
04 Dicembre 2023 - 10:15PM
Black Hills Corp. (NYSE: BKH) today announced that its Arkansas
natural gas utility, Black Hills Energy Arkansas, Inc., doing
business as Black Hills Energy, filed a rate review application
with the Arkansas Public Service Commission requesting $44.1
million in new annual revenue.
Black Hills Energy has invested approximately $130 million in
safety, system integrity and reliability for more than 7,200 miles
of natural gas pipeline infrastructure in Arkansas since its last
general rate filing in 2021. These critical investments were
required to support and extend service to approximately 7,500 new
customers in the rapidly growing communities in the state, to
ensure the safe and reliable delivery of natural gas to all
customers’ homes and businesses, and to meet compliance
requirements of state and federal regulations.
“We are committed to safe and reliable service as we support the
vibrant economic growth in our Arkansas communities,” said Linn
Evans, president and CEO of Black Hills Corp. “This rate review
request consists of the critical investments we have made to
maintain system integrity and serve growth and reflects the
increased costs of serving our customers driven by inflation and
higher interest rates.”
As proposed, the rate review is requesting a capital structure
of 48% equity and 52% debt and a return of equity of 10.5% for
investments the company has made in its natural gas system in
Arkansas. Black Hills Energy is seeking to implement new rates in
the fourth quarter of 2024.
Black Hills Corp.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.
Investor RelationsJerome E.
Nichols605-721-1171jerome.nichols@blackhillscorp.com
24-Hour Media Relations Line888-242-3969
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 future anticipated revenues from the new rate
increase, approval for our rider request 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.
Grafico Azioni Black Hills (NYSE:BKH)
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Da Ago 2024 a Set 2024
Grafico Azioni Black Hills (NYSE:BKH)
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Da Set 2023 a Set 2024