Statement from Phillip C. Parrish, Candidate for Governor of Minnesota 2026
For Immediate Release: July 9, 2025
Fellow Minnesotans,
As a retired Navy Lieutenant Commander, educator, farmer, administrator, and servant leader, I am running for Governor in 2026 to restore integrity, protect our communities, and ensure Minnesota’s energy future prioritizes affordability, security, and local control. The proposed $6.2 billion acquisition of Allete, parent company of Minnesota Power, by BlackRock’s Global Infrastructure Partners (GIP) and the Canada Pension Plan Investment Board (CPP) threatens our state’s sovereignty and burdens ratepayers. As your Governor, I will take decisive legal actions to block this deal and address the Walz administration’s contradictory energy policies that have driven up costs and enabled corporate takeovers.
Substantiated Concerns
This acquisition hands control of a vital utility to BlackRock, a global giant managing $11.6 trillion, and CPP, prioritizing high investor returns (15-20% annually) over Minnesotans’ interests. Private equity-owned utilities, like Michigan’s Upper Peninsula Power Company, often impose above-average rates, and this deal’s $600 million to $1.5 billion acquisition premium could raise electricity bills, with shareholders, including Allete executives, pocketing the profits.
Transparency is at stake. As a private entity, Allete would evade the regulatory scrutiny required of public companies, hiding decisions that affect northern Minnesota’s grid. The Walz administration’s claim that this deal supports Minnesota’s clean energy goals is riddled with contradictions. Allete’s plan to add 1,000 MW of natural gas capacity—a fossil fuel emitting methane—undermines the state’s purported commitment to reducing emissions. BlackRock’s withdrawal from Climate Action 100+ in 2024, CPP’s abandonment of its net-zero pledge in 2025, and GIP’s investments in fossil fuel projects, like the Rio Grande LNG facility, expose the hypocrisy of framing this acquisition as environmentally progressive.
Minnesota’s utilities are also critically vulnerable to cyberattacks, as warned by the Cybersecurity and Infrastructure Security Agency (CISA). Private equity’s profit-driven model could skimp on cybersecurity, risking outages and national security. The Walz administration’s burdensome energy regulations have raised costs, deterring smaller investors and allowing global firms like BlackRock to buy utilities at reduced prices due to lack of competition. These policies, while cloaked in environmental rhetoric, have failed to deliver affordability or grid reliability, leaving Minnesotans to bear the consequences.
Legal Actions as Governor
As Governor, I will use my constitutional authority under Article V of the Minnesota Constitution to protect ratepayers and ensure utilities serve the public. My administration will take the following actions:
1. Push for PUC Rejection or Strict Oversight: I will urge the Minnesota Public Utilities Commission (PUC) to reject the Allete acquisition unless BlackRock and CPP guarantee rate caps, transparency, and cybersecurity investments. If approved, I will demand conditions like local board representation and public reporting, as authorized under Minnesota Statutes § 216B.16.
2. Initiate a State Investigation: I will direct the Minnesota Attorney General’s Office and Department of Commerce to investigate the acquisition for violations of consumer protection laws (Minn. Stat. § 325D.44) and utility regulations, ensuring Minnesotans’ interests trump foreign investors.
3. Mandate Cybersecurity Upgrades: Leveraging my 21 years of military intelligence experience, I will propose legislation requiring utilities to adopt CISA-compliant cybersecurity measures, including U.S.-made equipment. A Utility Cybersecurity Task Force will audit vulnerabilities and enforce compliance, safeguarding our grid from ransomware and state-sponsored attacks.
4. Reform Costly Energy Regulations: I will work with the legislature to revise the Walz administration’s energy mandates (Minn. Stat. § 216B.1691) to prioritize affordability and reliability over contradictory environmental posturing. This includes reducing regulatory burdens that drive up costs and deter investment, while maintaining practical energy solutions.
5. Champion Local Control: I will promote community-owned utility models and public-private partnerships under Minn. Stat. § 216B.02 to keep revenue in Minnesota and prevent corporate exploitation, aligning with my commitment to servant leadership.
A Vision for Minnesota’s Future
Minnesota deserves an energy system that is affordable, secure, and accountable to its people, not global corporations or hypocritical policies. The Walz administration’s contradictory energy agenda—pushing costly mandates while endorsing fossil fuel expansions—has failed ratepayers and opened the door to BlackRock’s takeover. As Governor, I will fight for a transparent, resilient grid that empowers Minnesotans, protects our children, and upholds our values of faith, family, and freedom. I will expose white-collar profiteering, end fraud, and rebuild Minnesota for its people.
Join me in this fight. Visit parrish4mn.com to support our campaign and demand a government that serves you.
Sincerely,
Phillip C. Parrish
Candidate for Governor of Minnesota 2026
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