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Author Archives: Brian Edstrom

Xcel’s 2023 year-end earnings call shows Xcel continues to do well “despite” Minnesota rate case decision

Published January 26, 2024 On January 25, Xcel Energy, Inc. (the parent company of Northern States Power Company, Minnesota’s largest electric utility) held its 2023 year-end earnings call. The purpose of this call was to inform Xcel shareholders and investors of its recent financial performance and how Xcel’s corporate officers expect that performance to look…

CenterPoint proposes investments to decarbonize natural gas

Published January 22, 2024 CenterPoint recently proposed a large package of pilot projects aimed at decarbonizing the natural gas utility. On January 15, CUB filed an initial comment with the Minnesota Public Utilities Commission (“PUC”), recommending that the plan be approved, but with significant modifications. Background The Minnesota Legislature recently declared that “it is the…

CUB is leading effort to develop long-term system planning for Minnesota’s gas utilities

Published November 1, 2023 In February 2021, Winter Storm Uri caused natural gas prices to spike across the country. Over a five-day period, Minnesota’s four largest gas utilities incurred approximately $660 million in extraordinary costs serving their Minnesota customers. Most of those costs continue to be recovered today through surcharges added to Minnesotans’ bills. Thankfully,…

Xcel electric customers to see rate refunds

Published June 29, 2023 On June 1, 2023 the Minnesota Public Utilities Commission approved a 9.6% rate increase over three years for customers of Xcel Energy’s electric utility. This final rate increase is much lower than the 21.2% rate increase Xcel had initially proposed. It is also lower than the 8.92% interim (temporary) rate increase…

CUB is fighting MERC’s requested 9.91 percent rate increase

Published February 27, 2023 On November 1, 2022, Minnesota Energy Resources Corporation (“MERC”) filed an application with the Minnesota Public Utilities Commission (the “PUC”) requesting an increase in natural gas rates of $40,322,302 (a 9.91 percent increase). How much MERC will ultimately be allowed to raise rates will be determined by the PUC following an…

PUC approves a 9.5% rate increase for Minnesota Power

Published February 10, 2023 In November 2021, Minnesota Power filed a request with state regulators to charge its Minnesota electric customers an additional $108 million each year. If approved, this rate increase would have caused a rate hike of about 18% — or about $15 more per month for a typical residential customer. After a…

Minnesota to require gas utilities to submit public long-term plans

Published January 10, 2023 CUB is pleased to have played an important role in a new regulatory development: Minnesota will now require its three largest natural gas utilities to file integrated resource plans (IRPs)! This blog post provides an overview of how this requirement arose and why it matters. On September 15, 2022, Minnesota’s four largest…

CUB continues to fight Xcel’s request to raise electric rates

Published October 27, 2022 Last year, Xcel Energy filed a request with state regulators to charge its Minnesota electric customers an additional $677 million over the coming years. In its filing, Xcel addresses several reasons why it seeks to raise rates. For example, Xcel notes that it will be incurring additional costs to build new…

Minnesota customers will no longer be charged nearly $60 million in Winter Storm Uri related costs

Published August 22, 2022 Since the fall of 2021, most Minnesotans who receive natural gas from CenterPoint Energy, Xcel Energy, Minnesota Energy Resources (“MERC”), or Great Plains Natural Gas Co. have had an extra surcharge added to their monthly gas bills. These surcharges enable the above utilities to gradually recover approximately $660 million in extraordinary…

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