(Des Moines)– State regulators have rejected a settlement agreement that included a proposed 2.9 percent rate increase by a South Dakota-based utility for its natural gas customers in Iowa.
The Iowa Utilities Board on Friday announced it would not approve the agreement between Black Hills Energy and the Iowa Office of Consumer Advocate. The board says certain parts of it did not meet applicable standards.
Black Hills Energy, of Rapid City, S.D., filed a request for a $4.7 million increase in annual revenues to recover the costs of capital investments in its Iowa distribution system and other expenses.
The board says it will issue a written order with details about extending the case. The parties can also file another settlement agreement for the board to consider.
(From the Associated Press.).
