CHICAGO -- The Southern Minnesota Municipal Power Agency could make its rates more competitive by restructuring outstanding debt and expanding its commercial paper program, among other measures, an agency analysis says.

Pierre J. Heroux, executive director and chief executive officer of the power agency, said that the analysis, which lists recommendations on how to cut electric power rates by 10% to 15% over a two-year period, was drafted in response to changes in the power industry. The analysis was released this week by the agency, which serves 18 communities in southern Minnesota.

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