ALLETE, Inc. (NYSE: ALE) today reported third quarter 2016 earnings of 81 cents per share on net income of $40.3 million and operating revenue of $349.6 million. Last year's results were $1.23 per share on net income of $60.4 million and operating revenue of $462.5 million. Results for the third quarter of 2016 include an $8.8 million after-tax, or 18 cents per share, adverse impact for the regulatory outcome of an October 18, 2016, Minnesota Public Utilities Commission (MPUC) hearing on the allocation of North Dakota investment tax credits. Results for the third quarter of 2015 included profit recognition of $12.3 million after-tax, or 25 cents per share, and $135.9 million of operating revenue related to the construction of a wind energy facility which was sold to Montana-Dakota Utilities in the fourth quarter of 2015. Net income in 2015 also included acquisition costs of $0.9 million, or 2 cents per share. "We continue to be pleased with the improvement on Minnesota Power's industrial customer front," said ALLETE Chairman, President and CEO Al Hodnik, "including Cliff's United Taconite mine restarting in August, and our recently announced five-year agreement to supply electricity to U.S. Steel." ALLETE's Regulated Operations segment, which includes Minnesota Power, Superior Water, Light and Power, and the Company's investment in the American Transmission Co. (ATC), recorded net income of $45.0 million, an increase of $1.2 million over 2015 third quarter net income. At Minnesota Power, higher cost recovery revenue and production tax credits were partially offset by higher depreciation expense. Our equity earnings in ATC increased $0.6 million after-tax primarily due to additional investment in ATC. On November 2, 2016, Minnesota Power filed a retail rate increase request with the MPUC seeking an interim rate increase of approximately $55 million in additional revenue, with a final rate increase request of approximately $60 million.