Xcel Files For Rate Hikes In Minnesota

ST. PAUL, Minn. (AP) — Xcel Energy is seeking permission to raise Minnesota electricity rates by 4.6 percent next year and 5.6 percent the year after.

The increase would bring in about $291 million. The utility’s 1.2 million customers would face an average increase of a bit more than $10 a month.

State regulators have typically cut Xcel’s rate increase requests in half in recent years.

Xcel’s Minnesota CEO, Dave Sparby, said the company is investing in nuclear power plants, transmission and distribution lines and other projects including new wind farms. The company is eying additional rate hike requests from 2016 to 2018, but lower than those proposed this week.

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 This material may not be published, broadcast, rewritten or redistributed.)


Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From WCCO | CBS Minnesota

Good Question

Listen Live