Agrium, Monsanto contest higher electric rates

Soda Springs, Idaho-Agrium Inc. and Monsanto are contesting Rocky Mountain Power’s proposed steep hike in electricity charges for their Eastern Idaho phosphate mining and production operations. Rocky Mountain Power, a unit of MidAmerican Energy Holdings Co., says it needs to boost rates by an average of 13.7 percent, but much higher for the region’s mining operations. It proposes to raise Agrium’s rate by 15.9 percent and Monsanto’s rate by 19.6 percent. The Idaho Public Utilities Commission, which is reviewing Rocky Mountain Power’s proposal, plans to hold hearings and take public comments. Residential customers would see their rates rise about 8 percent. Customers say a recession is no time to raise rates so sharply.