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RAPID CITY, S.D., March 01, 2021 (GLOBE NEWSWIRE) -- Black Hills Corp. (NYSE:
BKH) today released additional details regarding the impacts from the extreme
cold weather during February on its utility businesses and customers. During
this extreme weather event, the company’s electric and natural gas systems
performed remarkably and delivered energy safely and reliably to its
customers.

In a Form 8-K filed recently, Black Hills indicated it incurred approximately
$600 million of additional natural gas costs to meet customer demand through
Feb. 24. The initial estimates of the incremental commodity costs to serve its
natural gas and electric utilities’ customers during the recent cold weather
are generally as follows:

 Arkansas Gas              $165 million  
 Colorado Gas              $75 million   
 Iowa/Nebraska             $190 million  
 Kansas Gas                $100 million  
 Wyoming Gas               $35 million   
 Total Gas Utilities       $565 million  
                                         
 Colorado Electric         $30 million   
 South Dakota Electric     $15 million   
 Wyoming Electric          $15 million   
 Total Electric Utilities  $60 million   

These incremental commodity costs for February are initial estimates and
subject to true-up as final accounting for transactions and related activities
are completed for February.

Black Hills Corporation
Black Hills Corp. (NYSE: BKH) is a customer focused, growth-oriented utility
company with a tradition of improving life with energy and a vision to be the
energy partner of choice. Based in Rapid City, South Dakota, the company
serves 1.3 million natural gas and electric utility customers in eight states:
Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming.
More information is available at www.blackhillscorp.com.

Investor Relations
Jerome E. Nichols
605-721-1171
jerome.nichols@blackhillscorp.com

24-Hour Media Relations Line
888-242-3969

(https://www.globenewswire.com/NewsRoom/AttachmentNg/56b34e64-17c6-4ecf-a4f6-b7848f82cfeb)



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