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BISMARCK, N.D. - North Dakota regulators say a recent spike in Otter Tail Power Co.'s electric prices could not be avoided.
| OTTR | 18.82 |  0.63 |
The state Public Service Commission says it has closed an investigation into the increase. It hit most of Otter Tail's 57,000 electric customers from January until May.
The increases happened because Otter Tail's Big Stone power plant was shut down for maintenance for two months late last year.
Public Service Commissioner Tony Clark says the repairs took longer than planned because of contractor problems. Otter Tail ended up having to buy more replacement power than the utility thought it would need.
Clark says Otter Tail's electric customers could have ended up paying even higher prices if the repairs had not been made.
U.S. stocks were mixed on Thursday after retailers reported mostly disappointing sales while other big-name companies announced layoffs and Europ...
China markets opened lower on Tuesday morning as the investors' confidence hit by the signals that global recession are deepening.
The markets have spoken: risk aversion is still the name of the game and that was obvious since the beginning of the week.
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