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Judge Recommends Limiting Xcel Energy Rate Hike

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(credit: Xcel Energy)

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MINNEAPOLIS (AP) — An administrative law judge says Xcel Energy’s proposed electricity rate hike should be held to 4.7 percent.

In a filing with the Securities and Exchange Commission, Xcel said Monday that last week’s recommendations by Administrative Law Judge Jeanne Cochran would amount to a $127 million rate increase.

Xcel is asking the Minnesota Public Utilities Commission for a 7.8 percent, increase, totaling $209 million, to pay for power plant upgrades.

The state Department of Commerce has recommended a 3.7 percent increase, saying the utility should cut bonuses and other perks for executives.

Xcel’s 1.2 million electric customers in Minnesota have been paying an interim increase of about 9 percent since Jan. 1, but likely will get refunds plus interest after the PUC issues a final ruling, which is expected in September.

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 This material may not be published, broadcast, rewritten or redistributed.)

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