From Jon Sackett - keeping an eye on the MUI
|January 25, 2010|
Monday Email Update
Watch your mail for the
MUI Day at
|At the State Capitol|
Senate Energy Committee held an informational hearing on utility rate
making. The MN Public Utilities Commission Chairman testified about
the ratemaking process and how comprehensive it is. Xcel
Energy also testified at the hearing about their rate case and answered
questions about the process.
the House Commerce Committee is holding an informational hearing on
House File 2440. This proposed legislation creates a MN Nuclear Waste
Storage Commission. The legislation also directs the current fee
Minnesota ratepayers pay to a Federal Waste Fund to be sent to a
Minnesota Waste fund.
law directs the fee to the National Waste Fund, this legislation could create a new fee that
ratepayers must pay to the new Minnesota Fund or put Xcel Energy in
breach of their federal contract.
MUI is planning to testify at the hearing expressing our
concerns with the legislation and its impact on members as shareholders
- Precinct Caucuses to be held around the state
on Tuesday, February 2nd.
- The Legislative session begins at
Noon, Thursday, February 4th.
a company files a rate increase request with the Public Utilities
Commission (PUC), current law allows the PUC to approve an "interim
rate increase". Customers' rates are temporarily increased to the
If, after the rate-making process is completed (approx.
10 - 12 months of scrutiny from the Dept. of Commerce, Administrative
Law Judge, the Attorney General's office and other stakeholders) the
approved final rates are less than what has been charged to customers
during the interim, the utility company must refund their customers the
difference, WITH INTEREST.
companies' ability to begin
charging "interim rates" is crucial to attract the necessary capital to
begin their proposed projects in a timely manner and to attract capital
at an attractive rate for the company, their shareholders and their
are held harmless
throughout this process and benefit in the long-term because of the
companies ability to raise capital at a reasonable cost.
investors | 400 North Robert Street #208 | St. Paul | MN | 55101
Carol A. Overland
Attorney at Law
LEGALECTRIC - Energy Consulting
P.O. Box 69
Port Penn, DE 19731
OVERLAND LAW OFFICE
P.O. Box 176
Red Wing, MN 55066