DENVER – Oct. 11, 2022 – Black Hills Corp. (NYSE: BKH) today announced that its Colorado intrastate natural gas pipeline, Rocky Mountain Natural Gas LLC, doing business as Black Hills Energy, filed a rate review application with the Colorado Public Utility Commission requesting $12.3 million in new annual revenue.
Black Hills Energy has invested over $120 million in safety, system integrity and reliability for more than 600 miles of natural gas pipeline infrastructure in Colorado since its last rate review in 2017. These critical investments were required to ensure the safe and reliable delivery of natural gas and transportation services and meet compliance requirements of state and federal regulations.
“This rate review request reflects our commitment to our Colorado customers to deliver safe, reliable and cleaner natural gas service,” said Linn Evans, president and CEO of Black Hills Corp. “This investment in our system, combined with excellent operational execution by our team, supports our ability to safely transport natural gas to various delivery points throughout western Colorado and reduces emissions through a more resilient and modern pipeline system.”
As proposed, the rate review requests a capital structure of 52% equity, 48% debt and a return on equity of 12.25%. Black Hills Energy is seeking to implement new rates on or before July 16, 2023.