Acquisition of Minnesota Power

Sierra Club
Project completed.

On behalf of the Sierra Club, Courtney Lane provided testimony before the Minnesota Public Utilities Commission regarding the proposed acquisition of ALLETE, Inc. (owner of Minnesota Power) by private equity firms Canada Pension Plan Investment Board (CPP Investments) and Global Infrastructure Partners (GIP). The testimony addressed the potential harms of the acquisition to the public interest, including the acquiring firms’ incentive to increase short-term profits—resulting in higher costs to ratepayers; post-acquisition control of the ALLETE Board; a reduction in reporting requirements and transparency; and the lack of commitment to adhere to Minnesota Power’s current coal plant retirement schedule. 

Related Publication(s):

Surrebuttal Testimony of Courtney Lane in the Matter of the petition of Minnesota Power for acquisition of ALLETE by CPP Investments and the Partners (Docket No. E-015/PA-24-198, M-24-383) Direct Testimony of Courtney Lane in the Matter of the petition of Minnesota Power for acquisition of ALLETE by CPP Investments and the Partners (Docket No. E-015/PA-24-198, M-24-383)