A judge urged the Minnesota PUC to reject the $6.2B acquisition of Duluth-based utility company Allete by private equity, warning it could raise rates, obscure transparency, and prioritize profits over public interest. (Utility Dive)
While Allete argues a July settlement secures rate freezes and capital commitments, opponents—including the state AG, the Sierra Club, and industrial customers—say the private equity model echoes past deals that led to steep rate hikes.