Otter Tail Corp.'s Subsidiary Otter Tail Power Requests 12.5% Rate Increase In South Dakota, Citing Rising Costs And Demand

Otter Tail Power Company, a wholly owned subsidiary of Otter Tail Corporation (NASDAQ:OTTR), filed a request with the South Dakota Public Utilities Commission (PUC) for permission to increase its electric rates. This request is a result of rising costs to maintain a safe and reliable system while meeting customers' growing electricity demand as economically as possible.

The net effect of Otter Tail Power's request is an increase to rates of approximately $5.7 million. If the PUC approves the overall request as filed, the average net increase to customers would be approximately 12.5%. Otter Tail Power last requested a rate review in South Dakota in 2018.