A scheduled hearing on the proposed merger between Black Hills Corp. and NorthWestern Energy has been canceled, with South Dakota regulators set to consider settlement agreements instead.
The Public Utilities Commission will meet Wednesday to decide whether to approve two proposed settlements—one involving a labor group and another outlining regulatory conditions for the merger. The companies are seeking approval to combine into a new entity, Bright Horizon Energy Corporation.
Under the proposed terms, the combined company would maintain a headquarters in Rapid City for at least 10 years and continue operations in the Sioux Falls area. The agreement also includes limits on future electric and natural gas rate increase requests by NorthWestern through 2028 and 2029, respectively.
The merger still requires commission approval, as state law mandates oversight for utility consolidations exceeding $10 million in value.
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