The Minnesota Public Utilities Commission (MPUC) on Monday approved a rate increase of approximately $59 million, or approximately 9%, that Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), is allowed to recover through the base rates that it charges to residential and business electric customers. The commission also authorized a return on equity of 9.65% for the company. The decision is subject to a final written order and reconsideration.
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