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MINNESOTA POWER ELECTRIC CUSTOMERS SHARE IN COURT AWARD

 MINNESOTA POWER ELECTRIC CUSTOMERS SHARE IN COURT AWARD
 DULUTH, Minn., Jan. 3 /PRNewswire/ -- Minnesota Power (NYSE: MPL)


electric customers will benefit from a 1991 federal court decision requiring ARMCO, Inc. to honor the electric service contract for the former Reserve Mining Company. ARMCO was a parent of the Silver Bay taconite company which was declared bankrupt in 1986. Minnesota Power filed suit against ARMCO to enforce the terms of its electric service contract and recover past due power bills.
 In an agreement announced today by the Minnesota Attorney General, Department of Public Service Commissioner and Minnesota Power, the Duluth-based electric company will provide refunds and rate credits to customers totaling $10.7 million. The typical refund for a residential customer will be about $10.
 "This is clearly a win-win situation for our customers and the company. We're pleased we could settle the ARMCO award and a number of other rate matters at the same time," said Allen Harmon, company group vice president.
 The settlement agreement also provides that Minnesota Power will not increase its electric rates through 1992. The agreement is subject to the final approval of the Minnesota Public Utilities Commission.
 Minnesota Power is a diversified electric company providing service throughout central and northern Minnesota.
 -0- 1/3/92
 /CONTACT: Warren F. Hudelson of Minnesota Power, 218-723-3934/
 (MPL) CO: Minnesota Power ST: Minnesota IN: OIL SU:


KH -- MN013 -- 6579 01/03/92 16:32 EST
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Publication:PR Newswire
Date:Jan 3, 1992
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