Black Hills Corporation
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| Public | |
| Traded as | : BKH S&P 400 Component |
| Genre | Energy Company |
| Founded | 1941 |
| Founder | J. B. French |
| Headquarters | Rapid City, South Dakota, United States |
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Key people
|
David R. Emery (Chairman, President, CEO) |
| Revenue |
 US$1.31B (FY 2010)
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US$186M (FY 2010)
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US$68.7M (FY 2010)
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| Total assets |
US$3.71B (FY 2010)
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| Total equity |
US$1.10B (FY 2010)
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| Subsidiaries | Black Hills Power Cheyenne Light, Fuel & Power Black Hills Energy Wyodak Resource BH Exploration and Production Enserco Energy |
| Website | blackhillscorp.com |
Black Hills Corporation is a Rapid City, South Dakota diversified energy company that is an electric and gas utility in South Dakota and Wyoming and sells power throughout the American West.
It derives its name from its home in the Black Hills of South Dakota.
The company traces its roots to 1883 and the organization of the Black Hills Electric Light Company of Deadwood. Merged with the Belt Light and Power Company of Lead in 1905, the company became Consolidated Power and Light Company of South Dakota. Meanwhile, to the south, the Dakota Power Company began serving Rapid City in 1910. Both of these companies were purchased by holding companies in the 1920s. With Roosevelt-era legislation to break up big national utility holding companies, Black Hills Power & Light Company was formed in 1941 by combining the assets of General Public Utilities, Inc. and Dakota Power Company which provided power for most of western South Dakota.
In 1956, the company completed its acquisition of the Wyodak Coal Company (now Wyodak Resources Development Corporation), from the Homestake Mining Company, setting the stage for the company's significant investments in mining, oil and gas.
In July 2002, Black Hills Corporation announced that a settlement was reached with the U.S. Commodity Futures Trading Commission (CFTC) relating to its marketing subsidiary, Enserco Energy, Inc. Based in Golden, Colorado, Enserco engages in natural gas marketing on the wholesale market and on behalf of independent producers. On November 25, 2002, Black Hills Corporation announced that its new independent public accountants, Deloitte & Touche LLP, had completed the audit of Black Hills Corporation's 2001, 2000 and 1999 financial statements that were originally audited by Arthur Andersen LLP.
In 2004, Black Hills acquired Cheyenne Light from Xcel Energy. Cheyenne Light continues to operate as a separate subsidiary.
In 2007, it announced an agreement to buy the natural gas utility in Colorado, Kansas, Nebraska and Iowa and its Colorado electric utility from Aquila, Inc.. Completed in July 2008, the deal increased the company's customer base from 137,000 to 753,000 and increased its employee base from 916 to 2,000.
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