For Release: 07/31/2008
Rosemount, MN – Today, Minnesota Energy Resources, a subsidiary of Integrys Energy Group (NYSE: TEG), filed a request with the Minnesota Public Utilities Commission to increase overall natural gas distribution rates by about 6.4%. The request is Minnesota Energy Resources' first since 2000.
Minnesota Energy Resources’ customers are served from different pipelines and, consequently, have slightly different rates. The new rates will result in monthly increases for residential natural gas customers in a range of $5.97 to $7.01.
"We know that rate increases are becoming increasingly difficult for our customers, especially in light of all the other increased costs in energy, food, transportation, and other products," said Minnesota Energy Resources President Chuck Cloninger. "The primary reasons for this request are general inflation coupled with low sales growth and increased costs to provide customer service functions."
Minnesota Energy Resources expects interim rates to be effective around October 1, and the final rates to be effective by the end of May 2009.
The commodity cost of natural gas is not affected by this request. Under the oversight of the Minnesota Public Utilities Commission, Minnesota Energy Resources charges customers the same price its pays for the natural gas commodity.
Minnesota Energy Resources Corporation is a regulated natural gas subsidiary of Integrys Energy Group (NYSE: TEG), serving about 207,000 customers throughout Minnesota.