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Securities and Exchange Commission
Washington, DC 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) - January 4, 1996
Minnesota Power & Light Company
A Minnesota Corporation
Commission File No. 1-3548
IRS Employer Identification No. 41-0418150
30 West Superior Street
Duluth, Minnesota 55802
Telephone - (218) 722-2641
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Item 5. Other Events.
On January 4, 1996, the Florida Public Service Commission (FPSC) voted
4-1 to permit Southern States Utilities (SSU), a wholly-owned subsidiary of
Minnesota Power & Light Company, to implement an interim rate increase which
would result, on an annualized basis, in an increase of $7.9 million in
authorized revenue over revenue from rates currently in effect. SSU expects the
interim rates to be effective by February 1, 1996. The revenue increase
represents 94 percent of the amount required by SSU based on a 1994 historical
test year.
SSU originally requested interim rates in an annualized amount of
approximately $12 million based on a 1995 forward-looking test year. However, by
order dated November 1, 1995, the FPSC denied the original request for two
reasons: (i) it was based on system-wide rates (which were deemed improper by a
court order subsequent to SSU's original filing), and (ii) the FPSC had not yet
formulated a policy as to what types of investments and expenses could properly
be included in a forward-looking interim test year.
This interim rate action is taken in connection with SSU's request for
an $18 million final revenue increase filed August 2, 1995. Final rates are
anticipated to become effective in the fourth quarter of 1996.
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Minnesota Power & Light Company
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(Registrant)
January 8, 1996 D.G. Gartzke
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D.G. Gartzke
Senior Vice President - Finance
and Chief Financial Officer
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