Yesterday, the Minnesota Public Utilities Commission approved a plan under which Xcel residential electricity rates will increase by 10.6 percent over four years. Customers are already paying much of the increase, in a 5.5 percent interim rate increase that went into place in 2016.
This is the first multi-year rate plan that regulators have approved under a 2015 law allowing them. The Star Tribune has more details in this morning’s paper.
CUB was not involved in this rate proposal. The case was underway at the time of our formation last year.
Are you concerned about paying more for electricity? Here are some tips to bring your bill down, and you can always contact us or come to an upcoming utility bill clinic for a free one-to-one consultation.