<PAGE>
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) - DECEMBER 16, 1999
MINNESOTA POWER, INC.
A Minnesota Corporation
Commission File No. 1-3548
IRS Employer Identification No. 41-0418150
30 West Superior Street
Duluth, Minnesota 55802-2093
Telephone - (218) 722-2641
<PAGE>
ITEM 5. OTHER EVENTS.
Reference is made to the Annual Report on Form 10-K for the year ended December
31, 1998 of Minnesota Power, Inc. (Minnesota Power) for background information
on the following update.
Ref. 10-Q for the quarter ended June 30, 1999 Page 19. - Sixth Paragraph
Ref. 10-Q for the quarter ended September 30, 1999 Page 20. - Fourth Paragraph
On December 16, 1999 the Minnesota Public Utilities Commission (MPUC) closed its
investigation into the reasonableness of Minnesota Power's rates. The
investigation was opened by the MPUC in June 1999. In early September 1999 the
MPUC clarified that the investigation was preliminary in nature. On September
29, 1999 Minnesota Power filed its report explaining 1998 actual and 1999
projected earnings, along with an explanation of why rates continue to be just
and reasonable.
The Minnesota Department of Commerce (Department) recommended acceptance of
Minnesota Power's September 1999 filing and closure of the investigation without
any further action. On a 3-0 vote, the MPUC closed its preliminary investigation
and determined it would not commence a full-scale rate investigation.
-1-
<PAGE>
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, Inc.
---------------------------------
(Registrant)
December 16, 1999 D. G. Gartzke
---------------------------------
D. G. Gartzke
Senior Vice President - Finance
and Chief Financial Officer
-2-
