October 20, 2014 12:48 AM ET

Electric Utilities

Company Overview of Black Hills Power Inc.

Company Overview

Black Hills Power, Inc., a regulated electric utility company, is engaged in the generation, transmission, and distribution of electricity in South Dakota, Wyoming, and Montana. The company’s distribution and transmission system serves approximately 69,000 electric customers, with an electric transmission system of 1,179 miles of high voltage lines and 2,462 miles of lower voltage lines, as well as jointly owns 44 miles of high voltage lines. It owns approximately 471 megawatts of coal-fired electric utility generating capacity. Black Hills Power, Inc. serves commercial, residential, contract wholesale, wholesale off-system, industrial, municipal, and other customers. The company is based in...

625 Ninth Street

Rapid City, SD 57701

United States

Phone:

605-721-1700

Key Executives for Black Hills Power Inc.

Chairman
Age: 51
Chief Financial Officer
Age: 61
Chief Operating Officer
Age: 74
Corpoarate Secretary and Treasurer
Age: 52
Vice President of Operations
Compensation as of Fiscal Year 2014.

Black Hills Power Inc. Key Developments

Black Hills Power Inc. and Cheyenne Light, Fuel & Power Company Announce First Mortgage Bonds for New Power Plant

Black Hills Corp. announced that its Black Hills Power and Cheyenne Light Fuel & Power electric utility subsidiaries entered into Bond Purchase Agreements, dated as of June 30, 2014, to authorize the sale of $160 million of first mortgage bonds in a private placement for the Cheyenne Prairie Generating Station financing. Black Hills Power will issue $85 million of 4.43% first mortgage bonds due Oct. 20, 2044. Cheyenne Light will issue $75 million of 4.53% first mortgage bonds due Oct. 20, 2044. The closing date for the sale of the first mortgage bonds for both utilities is anticipated Oct. 1, 2014. The proceeds from the $160 million sale of first mortgage bonds will provide financing for the Cheyenne Prairie Generating Station, a $222 million power plant being built in Cheyenne, Wyo. The new power plant will serve customers for both Black Hills Power and Cheyenne Light.

Black Hills Power Inc. Promotes Vance Crocker as Vice President of Operations

Black Hills Power Inc. announced that Vance Crocker is being promoted to vice president of operations for Black Hills Power. Crocker returns to Black Hills Power from Black Hills Corp.'s gas subsidiary Black Hills Energy in Kansas, where he served in a similar position as general manager of operations for the past two years. The transition of Crocker into his new role at Black Hills Power will begin immediately, with ongoing support provided by Loomis during the brief transition period.

Black Hills Power Inc. Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2012

Black Hills Power Inc. announced earnings results for the third quarter and nine months ended September 30, 2012. For the quarter, the company reported operating income of $12.0 million against $2.4 million a year ago. Income from continuing operations was $5.1 million against $0.3 million a year ago. Revenue was $1.3 million against $1.0 million a year ago. For the nine months, the company reported operating income of $33.4 million against $7.5 million a year ago. Income from continuing operations was $16.0 million against $2.1 million a year ago. Revenue was $3.2 million against $2.6 million a year ago.

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