Business Wire·Mar 10, 2026, 3:45 PM ET

Otter Tail Power Company Completes Rate Review in South Dakota

Otter Tail Power Company, a subsidiary of Otter Tail Corporation (NASDAQ: OTTR), received South Dakota Public Utilities Commission approval for a settlement agreement concluding its rate proceeding.
The settlement grants a net revenue increase of $3.3 million, representing 58% of the original request or 75% after adjustments for rider treatment.
A Blackbox settlement was reached regarding the return on equity & capital structure, establishing a return on rate base of 7.09%.
A moratorium on base rate increases is in effect until December 1, 2029, subject to certain exceptions.
Final rates are expected to be implemented on April 1, 2026, while maintaining some of the lowest regional & national electric rates.
Otter Tail Power President Tim Rogelstad credited the constructive regulatory process & collaboration with the commission for supporting safe, reliable, & economical service.
The press release includes standard forward-looking statements regarding the revenue increase, authorized return, capital investment plans, & rate implementation risks.
Otter Tail Corporation is an S&P SmallCap 600 Index member with electric utility & manufacturing operations, headquartered in Fergus Falls, Minnesota, & Fargo, North Dakota.