Montana Public Service Commission approves NorthWestern Energy, Black Hills Corp. merger

The Montana Public Service Commission approved the $15.4 billion NorthWestern Energy and Black Hills Corp. merger on Tuesday. The new company, once merged, will serve 2.1 million electric and natural gas customers in Montana, Arkansas, Colorado, Iowa, Kansas, South Dakota, Nebraska and Wyoming. In a split vote, the PSC supported the deal, with Commissioner Randy Pinocci in opposition and PSC President Jeff Welborn a “reluctant” no. Commissioners Jennifer Fielder, Annie Bukacek and Kirk Bushman voted yes. Montana is the last state that needed to vote on the deal, announced in August 2025. South Dakota and Nebraska regulators already approved it, and NorthWestern said it has secured federal regulatory approvals. In a statement, Northwestern spokesperson Jo Dee Black said company officials will review the order, and they continue to believe the merger is in the interest of customers.

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