Jointly-Owned Facilities and Assets

12 Months Ended

Dec. 31, 2022

Jointly-Owned Facilities and Assets [Abstract]

Jointly-Owned Facilities and Assets [Text Block]

JOINTLY-OWNED FACILITIES AND ASSETS

Boswell Unit 4. Minnesota Power owns 80 percent of the 585 MW Boswell Unit 4. While Minnesota Power operates the plant, certain decisions about the operations of Boswell Unit 4 are subject to the oversight of a committee on which it and WPPI Energy, the owner of the remaining 20 percent, have equal representation and voting rights. Each owner must provide its own financing and is obligated to its ownership share of operating costs. Minnesota Power’s share of operating expenses for Boswell Unit 4 is included in Operating Expenses on the Consolidated Statement of Income.

Minnesota Power’s investments in jointly-owned facilities and assets and the related ownership percentages are as follows:

Regulated Utility Plant	Plant in Service	Accumulated Depreciation	Construction Work in Progress	% Ownership
Millions
As of December 31, 2022
Boswell Unit 4	$712.0	$340.1	$3.3	80
Transmission Assets	101.0	21.1	—	9.3 - 14.7
Total	$813.0	$361.2	$3.3
As of December 31, 2021
Boswell Unit 4	$682.7	$311.1	$30.1	80
Transmission Assets	101.0	18.5	—	9.3 - 14.7
Total	$783.7	$329.6	$30.1