Otter Tail Power gets $13.1M rate increase in North Dakota settlement

Otter Tail Corp

NDPSC approved settlement on Dec 30, 2024 granting $13.1M (6.18%) annual base rate revenue increase.
Allowed return on equity of 10.10% on 53.5% equity ratio; revenue requirement cut $3M for tax credits and load adjustments.
Earnings-sharing provision: above 10.20% ROE, 70% refunded to customers, OTP retains 30%.
New base rates expected to be implemented in Q1 2025.

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