On May 1, CUB filed a legal brief outlining our assessment of the proposed acquisition of Minnesota Power, informed by a complex proceeding that has been ongoing for most of the past year. We conclude that potential harms stemming from the acquisition outweigh its potential benefits and recommend the PUC not approve it. Most parties representing public interest perspectives or consumers came to similar conclusions, including the Minnesota Department of Commerce, Office of the Attorney General, LPI (a large industry coalition), the Sierra Club, and CURE.
Over the course of 2024, regulated utilities disconnected over 91,000 Minnesota households from electricity and natural gas services. Meanwhile, utility executives were paid millions, and many of the costs associated with compensating those executives are borne by the same customers struggling.
Xcel just requested a 21.2 percent electric rate increase in 2021 and a 10.3 percent natural gas rate increase in 2023.
