BLACK HILLS CORP.
BLACK HILLS CORP.
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Black Hills Corp. Arkansas Subsidiary Requests Rate Review for System Investments

  • 97


FAYETTEVILLE, Ark. - Dec. 15, 2017 - Black Hills Corp.'s (NYSE: BKH) Arkansas natural gas utility subsidiary today submitted a regulatory rate review proposal to the Arkansas Public Service Commission to recover investments in safety, reliability and system integrity for natural gas service to 166,000 Arkansas customers.

Since 2016, Black Hills invested over $160 million in replacing, upgrading and maintaining more than 5,500 miles of natural gas transmission and distribution pipelines in Arkansas - critical infrastructure required to meet system growth needs and ensure the safe and reliable delivery of natural gas to customers' homes and businesses. These investments have improved safety and reliability by replacing aging infrastructure while meeting compliance requirements of state and federal regulations.

"The system investments and staff additions we've made, and will continue to make, are critical to ensuring safe, reliable service as we strive to meet customer needs driven by robust economic growth in Northwest Arkansas," said David Emery, Chairman and CEO of Black Hills Corp. "As with our entire natural gas service footprint, we take a deliberate approach to assessing and prioritizing staffing levels, infrastructure upgrades and additions. This rate review filing reflects our need to provide the infrastructure and support services required to serve the increasing demands of our customers."

If approved as filed, Black Hills' new Arkansas natural gas rates will generate an estimated $29.9 million per year in additional revenue, based on a capital structure of approximately 54.7 percent equity and 45.3 percent debt. The filing seeks a return on equity of 10.2 percent for investments Black Hills made in its natural gas system. Black Hills is seeking to implement new rates in the fourth quarter of 2018.

ABOUT BLACK HILLS CORP.
Black Hills Corp. (NYSE: BKH) is a customer focused, growth-oriented utility company with a tradition of improving life with energy and a vision to be the energy partner of choice. Based in Rapid City, South Dakota, the company serves 1.2 million natural gas and electric utility customers in eight states: Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. More information is available at www.blackhillscorp.com.

Caution Regarding Forward Looking Statements
This news release includes "forward-looking statements" as defined by the Securities and Exchange Commission, or SEC. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this news release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward looking statements, including our ability and the timing of receiving regulatory approval to recover our operating costs and a return on our investments. These forward-looking statements are based on assumptions which we believe are reasonable based on current expectations and projections about future events and industry conditions and trends affecting our business. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks and uncertainties that, among other things, could cause actual results to differ materially from those contained in the forward-looking statements, the risk factors described in Item 1A of Part I of our 2016 Annual Report on Form 10-K filed with the SEC, and other reports that we file with the SEC from time to time.

New factors that could cause actual results to differ materially from those described in forward looking statements emerge from time-to-time, and it is not possible for us to predict all such factors, or the extent to which any such factor or combination of factors may cause actual results to differ from those contained in any forward-looking statement. We assume no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations
Jerome Nichols                                                                  
605-721-1171                                                                   
[email protected]

Media Contacts
Amiee York
479-582-7820
[email protected]

Digital Media
www.blackhillscorp.com
Twitter.com/bhenergy ~Facebook.com/blackhillsenergy





This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Black Hills Corporation via Globenewswire

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