Otter Tail Power Co. is asking North Dakota regulators for a 5.1 percent increase in its electric rates.

Company President Chuck MacFarlane says the rate increase is needed because of rising operating costs. MacFarlane says the company hasn't asked for one since 1982.

The company estimates the increase would cost an average homeowner an extra $60 a year. It would add about $27 a year to the electric bill of a typical business.

Otter Tail wants most of the increase to go into effect right away. Ratepayers would see a 4.1 percent increase on Jan. 2.

Otter Tail has about 57,000 electric customers in North Dakota. It serves Wahpeton, Jamestown, Devils Lake and a number of smaller communities.

-Associated Press