Representatives from energy companies and consumers reached a deal on issues related to the sale of the utility to NorthWestern Corporation.
Part of the settlement calls for the establishment of a $30 million account by NorthWestern and Montana Power to be used as credit towards electric customers of Montana Power. This credit would be approximately $3.25 per month for one-year and would begin on July 1.
Before this settlement can be finalized, the Montana Public Service Commission must give a final approval. A hearing to discuss approval has been set for Jan. 16. The decision is expected to be made no later than Jan. 31.
Finally, the sale of the utility will cost NorthWestern $602 million along with the assumption of $488 million in debt.
Northwest/Upper Midwest: A deal has finally been made in the sale of Montana Power’s utility to NorthWestern Corporation. The settlement of the deal now awaits approval from the Montana Public Service Commission.
Publication date: 01/14/2002