WCCO EYE4 LOGO WCCO Radio wcco-eye-red01, ww color red

Local

Xcel Energy Reduces Minn. Rate Hike Request

View Comments
(credit: CBS)

(credit: CBS)

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up
Today's Most Popular Video
  1. 4 Things To Know For Sept. 22, 2014
  2. Woman Launches New Local Bourbon Line, Crooked Water
  3. Bob Suter Leaves Behind Quite A Legacy
  4. Jason DeRusha Gladly Takes A Pie To The Kisser
  5. Alaska TV Reporter Quits On Air While Promoting Pot

ST. PAUL, Minn. (AP) — Xcel Energy has reduced its proposed Minnesota electric rate increase.

The Minneapolis-based utility said Monday it lowered its proposed rate increase to 8.2 percent. Xcel proposed a rate hike of 10.7 percent in November.

Xcel Energy cites changed circumstances since its original request. The revised proposals reduce the utility’s requested rate increase to about $220 million, down from $285 million.

Minnesota officials had urged state regulators to slash Xcel Energy’s original request, citing “rate shock” among customers. The state Commerce Department recommended a smaller rate hike of about 3 percent to 4 percent.

Judy Poferl, president and CEO of Northern States Power Co.-Minnesota, an Xcel Energy company, says the revised request allows the utility to make upgrades while reducing the size of the requested increase for customers.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 1,870 other followers