Montana Approves $15.4 Billion NorthWestern-Black Hills Merger

Montana’s Public Service Commission approved the $15.4 billion merger of NorthWestern Energy and Black Hills Corp. in a 3-2 vote, clearing the final state regulatory hurdle; the combined company is planned to operate as Bright Horizon Energy, headquartered in Rapid City. Approval included conditions requiring plans for the combined utility’s increased share of Colstrip generation, amid concerns about Montana’s access to power and local control. Supporters argued the merger could improve efficiency and produce savings for customers, and the order says rates will not rise as a result of the deal. Opponents and many public commenters questioned whether Montanans would see clear benefits and raised concerns about higher bills, data-center infrastructure costs being shifted to other customers, and the utility’s ability to meet local power needs.