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Reposted by Alissa Jean Schafer

David Roberts @volts.wtf · 7d

Aw, man, Walz, what up?

BlackRock-owned Global Infrastructure Partners and a Canadian pension giant want to buy a Minnesota-based utility. Gov. Tim Walz’s agencies have been in on pushing the deal.

prospect.org

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Alissa Jean Schafer @alissajean.bsky.social · 7d

MN Public Utility Commissioner Ham seems to be confused about the structure of GIP and BlackRock. For clarity, please see GIP's own website and logo on the top of every page. GIP is a wholly owned subsidiary of BlackRock. Period. www.global-infra.com/news/blackro... www.blackrock.com/corporate/ne...

Alissa Jean Schafer @alissajean.bsky.social · 15d

MN PUC is starting hearing for BlackRock's attempted takeover of MN Power now, livestream here - minnesotapuc.granicus.com/player/event...

PUC Agenda Meeting on 2025-09-25 9:00 AM

Live and Recorded Public meetings of PUC Agenda Meeting on 2025-09-25 9:00 AM for Minnesota Public Utilities Commission

minnesotapuc.granicus.com

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Alissa Jean Schafer @alissajean.bsky.social · 16d

When I raise alarms about private equity taking over our electric utilities, it's because of stuff like this. Where PE invests, serious harm tends to follow. Our communities deserve better.

NBC News @nbcnews.com · 16d

After hospitals were acquired by private equity firms, patient death rates in the emergency departments rose by 13% compared with similar hospitals, according to research published in Annals of Internal Medicine.

Death rates rose in hospital ERs after private equity firms took over, study finds

The increased deaths in emergency departments at private equity-owned hospitals are most likely the result of reduced staffing levels, researchers say.

nbcnews.to

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Alissa Jean Schafer @alissajean.bsky.social · 18d

MN families should not have to pay higher electricity bills so Wall Street investors can collect outsized returns. Yet this is the risk in front of the Minnesota Public Utilities Commission this Thurs, Sept. 25. PUC should reject the BlackRock takeover: www.duluthnewstribune.com/opinion/colu...

www.duluthnewstribune.com

Alissa Jean Schafer @alissajean.bsky.social · Aug 25

Data center company QTS mentioned in this piece is owned by Blackstone 👀 Private equity firms are invested & fighting at every step of the AI supply chain, folks. Great overview of many current issues facing this new chapter here from @maryellenklas.bsky.social www.bloomberg.com/opinion/arti...

NIMBYs Are Coming for the Data Centers AI Needs

Elected officials have been punished by voters for greenlighting the massive, energy-hogging facilities.

www.bloomberg.com

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Reposted by Alissa Jean Schafer

ashley fairbanks @ziibiing.com · Aug 19

the fact that citizen’s utility board is against this tells me what i need to know.

because we don’t just need an energy transition—we need one that is equitable and accessible, that improves the material conditions for folks.

everything we cede to private equity is a loss we can’t afford.

Bill Lindeke @blindeke.bsky.social · Aug 19

Interesting that Fresh Energy is on the side of Blackrock here. minnesotareformer.com/2025/08/19/b...

BlackRock’s bid for Minnesota Power worries consumer advocates • Minnesota Reformer

At the heart of the matter is a simple question: Is it a good or bad thing for the world’s largest asset manager to have a controlling stake in a regional utility?

minnesotareformer.com

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Alissa Jean Schafer @alissajean.bsky.social · Aug 18

You can email the MN Public Utility Commission at [email protected] and reference PUC Docket Number 24-198 - aka BlackRock trying to take over MN Power. You can also write a letter to the editor in your paper, post about it on social media, & talk with your neighbors about contacting the PUC!

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Reposted by Alissa Jean Schafer

isaac @sevier.io · Aug 18

Something worth saying is that if you want to claim that the regulatory process at the PUC works and is good governance, then it would be consistent to support the ALJ here given the length and robustness of the proceeding.

Alissa Jean Schafer @alissajean.bsky.social · Aug 18

BlackRock attempting to take over a local power company in Minnesota is precedent setting, and not in a good way. Following a strong recommendation from MN Administrative Law Judge McKenzie to DENY the acquisition, all eyes now turn to the state's public utility commission.

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Alissa Jean Schafer @alissajean.bsky.social · Aug 18

As the kids are saying these days... sus. Did I get that right? I spoke with Katya Schwenk at The Lever about all the shenanigans: www.levernews.com/this-is-how-...

This Is How Wall Street Could Buy Your Power Company

Private equity giant BlackRock is waging a scorched-earth campaign to acquire a regional power company as Wall Street seeks to profit from the AI energy boom.

www.levernews.com

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Alissa Jean Schafer @alissajean.bsky.social · Aug 18

The commission is expected to decide on this deal this fall. In the meantime, some *odd* things have happened, including a BlackRock/GIP lawyer and former MN public utility commissioner's name, Lipschultz, showing up as the author on a comment filed in support of the deal "from" a local labor group.

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Alissa Jean Schafer @alissajean.bsky.social · Aug 18

BlackRock attempting to take over a local power company in Minnesota is precedent setting, and not in a good way. Following a strong recommendation from MN Administrative Law Judge McKenzie to DENY the acquisition, all eyes now turn to the state's public utility commission.

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Alissa Jean Schafer @alissajean.bsky.social · Jul 30

Even Fox News is skeptical of private equity taking over utilities. Check it out (and send in your thoughts if so moved, per the ask at the end of the article!) www.foxnews.com/tech/wall-st...

Wall Street utility takeovers may mean higher bills ahead

As data centers multiply across the United States, energy demand is increasing at a rapid pace. This has not escaped the notice of large investment firms from Wall Street.

www.foxnews.com

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Alissa Jean Schafer @alissajean.bsky.social · Jul 17

The whole "private equity taking over a utility" thing is not only happening in MN. That proceeding is just one example of a troubling trend that is emerging. I spoke with Ivan Penn at the New York Times about the issue. Here's his piece that ran today: www.nytimes.com/2025/07/17/b...

Wall St. Firms Are Buying Utilities to Tap Into the A.I. Boom

www.nytimes.com

Alissa Jean Schafer @alissajean.bsky.social · Jul 15

Hot off the docket - Huge win in MN, judge filed opinion JUST NOW recommending BlackRock/GIP acquisition of utility be DENIED.

Hell yea. A win for the people.

(If you’re a reporter and want to talk, you know how to find me 🤓)
Here's the ALJ filing: efiling.web.commerce.state.mn.us/documents/%7...

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Alissa Jean Schafer @alissajean.bsky.social · Jul 9

What's next? The MN Administrative Law Judge Megan J. McKenzie has a July 15 deadline to issue her recommendation, then the matter goes the the MN Public Utilities Commission for final ruling.

Alissa Jean Schafer @alissajean.bsky.social · Jul 9

“All this should raise a lot of concern,” said Schafer. “There’s no reason that customers in Minnesota should have faith that BlackRock and GIP are going to do the right thing.”

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Alissa Jean Schafer @alissajean.bsky.social · Jul 9

In short: “The prospect of a utility that so many folks rely on for access to energy being taken over by a shadowy private equity firm is incredibly concerning,” Alissa Jean Schafer, climate director at Private Equity Stakeholder Project, told Truthout.

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Alissa Jean Schafer @alissajean.bsky.social · Jul 9

Backsliding: MN has climate goals, BlackRock/GIP are heavily invested in fossil fuels. "Critics say there’s nothing legally binding the new owners to provide clean energy funding to MN Power. “The commitment to provide that capital is a big pinky swear... but it’s not legally enforceable,” -Edstrom"

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Alissa Jean Schafer @alissajean.bsky.social · Jul 9

Less transparency: Private ownership means less public oversight. "Between their control over the board — GIP and CPP [Canada Pension Plan Investment Board] can appoint 10 of Allete’s 13 directors — and becoming Allete’s sole source of capital, these two private owners will dominate the utility."

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Alissa Jean Schafer @alissajean.bsky.social · Jul 9

Private equity takeover could mean higher bills: “Private equity investors demand higher profits than normal market investors,” Jenna Yeakle, an organizer with the Sierra Club and a Minnesota Power customer, told Truthout. “That means higher rates for residential and small business customers.”

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Alissa Jean Schafer @alissajean.bsky.social · Jul 9

In case you haven't heard, BlackRock (and its subsidiary Global Infrastructure Partners) are trying to take over an electric utility, MN Power via its parent company ALLETE. I recently spoke with Truthout about this concerning deal. Here is the link a few takeaways: truthout.org/articles/why...

Why Is BlackRock Gunning to Take Over a Minnesota Electric Utility?

Opponents say the deal would leave ratepayers and regulators at the mercy of far-off financial profiteers.

truthout.org

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Alissa Jean Schafer @alissajean.bsky.social · May 20

Happy to see FPL's 9 billion money grab covered in Axios this morning. Are y'all ready to make those public comments to the commission in the next couple weeks??? Info here - www.axios.com/local/miami/...

Alissa Jean Schafer @alissajean.bsky.social · Apr 23

From PESP and yours truly - "The approval should concern investors and energy customers alike, as it paves the way for even deeper control and influence over critical energy infrastructure, potentially threatening fair competition." pestakeholder.org/news/ferc-ch...

FERC Chair Christie highlights concerns over BlackRock’s blanket authorization extension, while still approving order

On April 17, 2025, the Federal Energy Commission approved the extension of BlackRock’s blanket authorization to acquire voting securities of any “public utility,” “electric utility company,”…

pestakeholder.org

Alissa Jean Schafer @alissajean.bsky.social · Apr 21

In case you missed it, Florida Power & Light is pushing a NINE BILLION DOLLAR rate hike with an 11.9% return on equity for the company. AARP Florida has a hub here with all the info, including upcoming dates for public hearings - states.aarp.org/florida/fpl-...

2025 Florida Power & Light Rate Case Hub

As your advocate, AARP Florida is committed to ensuring fair and reasonable rates for FPL customers, with a particular focus on protecting older adults on fixed incomes from excessive financial strain...

states.aarp.org

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