Minnesota natural gas system sale transaction complete; sale of Minnesota electric system moves forward
CEDAR RAPIDS, Iowa – Our company’s Minnesota utility has successfully closed the sale transaction of our Minnesota natural gas system to Minnesota Energy Resources.
Effective May 1, Minnesota Energy Resources will begin handling all customer service questions or concerns. Customers will also be transitioned to Minnesota Energy Resources’ programs and service terms.
Customers will be receiving additional information through direct mail from Minnesota Energy Resources regarding their programs and services. Customers can also contact Minnesota Energy Resources’ customer service representatives at 1-800-889-9508 or visit minnesotaenergyresources.com.
On April 30, the Minnesota Public Utilities Commission (MPUC) verbally approved the sale of our Minnesota electric distribution system to Southern Minnesota Energy Cooperative. We expect the MPUC to issue a written order in the second quarter 2015.
The Iowa Utilities Board (IUB) held an evidentiary hearing on April 27 regarding the sale of our company’s electric distribution system in Minnesota. We expect the IUB to issue a decision in the second quarter 2015. The transaction is also pending Federal Energy Regulatory Commission (FERC) approval. Pending final approvals, we expect the sale of the Minnesota electric system to close in the third quarter 2015.
In September 2013, our company’s Minnesota utility announced plans to sell our natural gas and electric systems in Minnesota.