Congress passed a bill scaling back flood insurance premium increases, allowing below-market insurance rates to be passed on to people buying homes.
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.
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.