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Black Hills Energy Receives Approval From The Colorado PUC To Implement New Electric Service Rates

Stocks in this article: BKH

Throughout the regulatory process, the Black Hills Energy rate request has undergone extensive review by the Colorado PUC, Commission Staff, the Colorado Office of Consumer Counsel and interveners, including the Pueblo Board of Water Works, the City of Pueblo and Fountain Valley Authority.

With implementation of the new rates on Jan. 1, 2012, a typical Black Hills Energy residential customer in southern Colorado using 600 kilowatt hours of power each month will pay approximately $17.50 more per month, or about $0.58 per day, and typical small-business customers using 2,300 kilowatt hours per month will pay approximately $63.78 more per month. The increase experienced by Black Hills Energy's large commercial and industrial customers in Colorado will vary depending on rate class and the amount and nature of their electricity use. Black Hills Energy currently serves approximately 94,000 customers in southern Colorado.

Black Hills/Colorado Electric Utility Company, LP d/b/a Black Hills Energy

Black Hills Energy serves 94,000 electric customers in 21 southeastern Colorado communities. Black Hills Energy is a subsidiary of Black Hills Corp. (NYSE: BKH).

Black Hills Corporation

Black Hills Corp. (NYSE: BKH) — a diversified energy company with a tradition of exemplary service and a vision to be the energy partner of choice — is based in Rapid City, S.D., with corporate offices in Denver and Papillion, Neb. The company serves 762,000 natural gas and electric utility customers in Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. The company's non-regulated businesses generate wholesale electricity, produce natural gas, oil and coal, and market energy. Black Hills' 2,100 employees partner to produce results that improve life with energy. More information is available at www.blackhillscorp.com.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This news release includes "forward-looking statements" as defined by the Securities and Exchange Commission, or SEC. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this news release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including statements regarding the recovery of yet-to-be incurred costs through rate adjustment mechanisms and providing our customers with long-term rate stability, a secure energy supply, a base from which to integrate a growing renewable resource portfolio and a hedge against the impact of uncertain future carbon legislation are forward looking statements. These forward-looking statements are based on assumptions which we believe are reasonable based on current expectations and projections about future events and industry conditions and trends affecting our business. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks and uncertainties that, among other things, could cause actual results to differ materially from those contained in the forward-looking statements, including the factors discussed above, the risk factors described in Item 1A of Part I of our 2010 Annual Report on Form 10-K filed with the SEC, and other reports that we file with the SEC from time to time.

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