2021 Rate Review

Nov. 1, 2021

As a regulated utility, we file a rate review request when the revenue we receive from providing safe and reliable electricity to our customers does not match the expense of producing and delivering that energy, including a reasonable return for shareholders.

Rates are set through a transparent process with the Minnesota Public Utility Commission (MPUC) that regulates investor-owned electric utilities in the state. The 12- 18 month process includes opportunities for public input and participation, and multiple public hearings where customers can speak to an administrative law judge overseeing the rate review process. The MPUC also accepts written comments on its website at We also encourage customers to give feedback directly to us by emailing

2021 Rate Review Filing

Jennifer J. Cady
Case Overview

Patrick L. Cutshall
Capital Structure, Cost of Capital, Retirement Plan Accounting

Ann E. Bulkley
Return on Equity

Joshua G. Rostollan
Budgeting, Cost Allocations, and Expenses

Frank L. Frederickson
Customer Overview

Benjamin S. Levine
Sales Forecast

Julie I. Pierce
Power Supply Strategy

Todd Z. Simmons
Generation Operations

Daniel W. Gunderson
Transmission and Distribution

Laura E. Krollman
Employee Compensation and Benefits

John D. Armbruster

Stewart J. Shimmin
Jurisdictional Costs, Class-Cost-of-Service Study, and Cost Recovery Riders

Amanda L. Turner
Revenue Requirements

Leah N. Peterson
Rate Design

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