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What is MUI up to?

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  • Carol A. Overland
    From Jon Sackett - keeping an eye on the MUI Legislative agenda: Having trouble viewing this email? Click here
    Message 1 of 1 , Jan 25, 2010
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      From Jon Sackett - keeping an eye on the MUI Legislative agenda:

      January 25, 2010
      MUI Logo small 
           Monday Email Update

      Watch your mail for the March 23rd

      MUI Day at the Capitol

      registration materials.

      In This Issue
      At the State Capitol & At the PUC
      Quick Links
      413 Wacouta Street,
       Suite 230
      St. Paul, MN  55101
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      At the State Capitol
      Last Week: 
      • The 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. 
      This Week:
      • Monday, 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. 
      Because federal 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 and ratepayers.
       Next Week:
      • Precinct Caucuses to be held around the state on Tuesday, February 2nd.
      • The Legislative session begins at Noon, Thursday, February 4th.
      Interim Rates 
      When 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 allowed rate. 
      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.
      The 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 ratepayers. 
      Ratepayers are held harmless throughout this process and benefit in the long-term because of the companies ability to raise capital at a reasonable cost. 

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      Minnesota utility 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
      (302) 834-3466
      P.O. Box 176
      Red Wing, MN  55066
      (612) 227-8638
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