Minnesota Power Finalizes Environmental Agreement with EPA
Minnesota Power, a utility division of ALLETE, reached a settlement agreement with the Environmental Protection Agency (EPA) and the Minnesota Pollution Control Agency that resolves alleged violations of the new source review provisions of the Clean Air Act. The agreement does not include any admission of wrongdoing on the part of the company Minnesota Power is one of many utility companies in the U.S. whose investments in electric generation facilities were reviewed as part of the EPA's Coal-Fired Power Plant Enforcement Initiative that began in 1999. The initiative has resulted in more than 25 related settlements nationwide. Under the terms of the settlement, ALLETE will pay a $1.4 million civil penalty. In the second quarter of 2014, ALLETE recorded an after-tax expense of $2.5 million, or $0.06 per share, to reflect a liability associated with the conservation and clean energy projects.