Montana Approves $15.4 Billion Merger of NorthWestern Energy and Black Hills Corp.
The Montana Public Service Commission has approved the $15.4 billion merger between NorthWestern Energy and Black Hills Corp. This approval is the final state regulatory hurdle for the deal, which will create a company serving millions of customers across Montana,…
Sioux Falls, SD, November 11, 2026 — The Montana Public Service Commission (PSC) has granted its approval for the significant $15.4 billion merger between NorthWestern Energy and Black Hills Corp. This decision marks the conclusion of the state regulatory review process for the proposed union.
The merger, once finalized, is set to establish a larger energy company with an expansive service footprint. The combined entity will serve millions of customers across multiple states, including Montana, South Dakota, Nebraska, Wyoming, Colorado, Iowa, Kansas, and Arkansas.
While the commission’s vote signifies a green light for the deal, the approval was not without reservations. Several commissioners and members of the public voiced concerns during the review period. The primary issues raised centered on the potential effects of the merger on customer rates and the adequacy of protections for consumers.
The Montana PSC’s approval removes the final state-level regulatory obstacle for NorthWestern Energy and Black Hills Corp. The companies will now proceed with integrating their operations, which will encompass a wide range of energy services and infrastructure across their combined service territories. Further details regarding the timeline for integration and specific operational changes were not provided in the summary. The nature of the potential rate impacts and customer protections discussed by the commission and the public also remains unspecified.
Story summarized from the original created by Keila Szpaller on southdakotasearchlight.com, see more information here.
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