PSI Energy purchased power cost recovery approved

The recovery will be spread out over a 12-month period beginning with PSI’s next billing cycle and will increase a typical residential customer’s bill by approximately 84 cents per month. The tracker encourages the company to purchase power in advance, reducing reliance on volatile hourly spot markets.

DULUTH, Minn., May 17 /PRNewswire/ — Minnesota Power, a business of ALLETE, Inc., and Cleveland-Cliffs announced today that they have submitted a bid to acquire all of the assets of LTV Steel Mining Company in northeastern Minnesota. The mining operation was closed on January 5, 2001 after LTV initiated a Chapter 11 bankruptcy proceeding.

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