Honest question, I really like this piece and questions raised.

Whether or not the profit *motive* of PE vs other asset managers is greater seems to matter less than the fact that PE IS more profitable/extractive than other models (or has been)--higher RORs, fees etc. That's why BlackRock et al are trying so hard to expand their share of the PE sector?

Ratepayers will be on the hook for the $1.5 BILLION premium on the price of the sale not to mention the continued profit-taking that is the entire point of this acquisition. $50 million in temporary bill credits, etc doesn't really amount to much in comparison.

Infuriating update: curemn.org/blog/mn-puc-...

"but I want to point out that politically *not great* that this is in MN"

Been screaming this from the rooftops, largely falling on the deaf ears of dems, clean energy orgs, funders, all the powers that be.

Now just imagine that revenue/profit model in the hands of private equity pestakeholder.org/media_covera...

For folks in MN: the Public Utilities Commission still needs to give its approval before BlackRock can acquire Minnesota Power/ALLETE. You can send comments to them here: mn.gov/puc/get-invo... Just be sure to include Docket No. E015/PA-24-198 where it indicates.

And to let the Dept of Commerce's PR statements about their "settlement" stand alone without mentioning that the MN Attorney General says it's far too weak and that the deal should be rejected is another weird omission.

This article makes it sound like MN's climate advocates support this deal when the orgs that have actually been deeply engaged for over a year including Sierra Club, MCEA, and CURE firmly oppose it. Weird to not mention that.

Not much evaluation, they weighed in at the request of the powers that be after the Admin Law Judge firmly recommended the deal be rejected. The climate advocates like Sierra Club, MCEA, and CURE who have been engaged on this since the beginning remain firmly opposed. So does the AG.

See this letter from actual climate and community justice orgs here if you need some talking points: drive.google.com/file/d/1d-9l... And keep your eye on Sierra Club, @curemn.org, and others for updates.

Yes, you can still send comments to the PUC!! mn.gov/puc/get-invo... Just be sure to include Docket No. E015/PA-24-198 where it indicates.

Also isaac like others are saying!

Mark Ellis AND someone who actually has first hand experience with the energy burden, as others are saying

Add the utility and energy sector to this list of sectors the PE is gunning for: truthout.org/articles/as-...

Can't stop thinking about the "Hands Off Free Trade" sign yesterday (at my small-town protest in a deindustrialized region)...