Local Electric Cooperatives Receive Regulatory Approval to Acquire Alliant Energy's Electric Service in MN
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Local Electric Cooperatives Receive Regulatory Approval to Acquire Alliant Energy’s Electric Service Territory in Southern Minnesota
ALBERT LEA, Minn. (May 1, 2015) – Southern Minnesota Energy Cooperative (SMEC) received state regulatory approval to acquire Alliant Energy’s Minnesota electric service territory in a verbal decision on Thursday, April 30, 2015, by the Minnesota Public Utility Commission (MPUC). SMEC is the single point of contact for the purchase of the territory in southern Minnesota by 12 electric cooperatives.
Freeborn-Mower Cooperative Services is one of the 12 participating SMEC cooperatives that will be welcoming new members in the Alliant Energy transaction. For Freeborn-Mower the combined territory would serve approximately 21,300 members, a 255 percent increase.
The MPUC-approved acquisition will add approximately 43,000 electric accounts to the systems of all of the 12 SMEC member cooperatives combined.
While the MPUC approved the transaction, several steps remain and it could be months before the acquisition closes and cooperatives welcome new members from Alliant Energy.
About Southern Minnesota Energy Cooperative
Southern Minnesota Energy Cooperative (SMEC) was formed by 12 electric distribution cooperatives as a single point of contact for the proposed purchase of electric service territory in southern Minnesota from Alliant Energy. The 12 SMEC member cooperatives are BENCO Electric Cooperative, Brown County Rural Electrical Association, Federated Rural Electric, Freeborn-Mower Cooperative Services, Minnesota Valley Electric Cooperative, Nobles Cooperative Electric, People’s Energy Cooperative, Redwood Electric Cooperative, Sioux Valley Energy, South Central Electric, Steele-Waseca Cooperative Electric and Tri-County Electric Cooperative.