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Xcel Energy Proposes Electricity Rate Increase

Xcel Energy has submitted an application to the Minnesota Public Utilities Commission (“PUC” or “Commission”) for the authority to increase rates for its electric service customers. In its request, Xcel has asked the Commission to allow the utility to increase rates and service charges to cover proposed additional revenues of $466 million, a 15.2 % increase. Under the proposal, the typical residential customer (600 kWh/month) would see an overall bill increase of $14 per month.

An interim rate increase will begin on electricity used beginning January 1, 2020.

The interim rate increase will remain in place until the PUC makes its final decision on the company’s rates in 2020 or 2021.

The PUC will be holding public hearings and seeking written comments as to the rate increase request soon.

CUB has provided tips that can help you reduce your electric use. We also provide free bill consultations and can give you customized suggestions to reduce your household’s energy use. Visit our events page for upcoming bill clinics or contact our outreach staff for individual consultations.

Graphs provided by EQ Research LLC
Author: Joseph Pereira

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