December 7, 2022
Xcel Energy has dropped a controversial request for a $122 million electric rate increase next year.
Minnesota’s largest electric utility, which serves 1.3 million customers in Minnesota, requested to raise rates about 21 percent over three years.
Last year, the state Public Utilities Commission granted Xcel an interim rate increase — although less than Xcel wanted — while it considers the broader request.
Consumer advocates opposed Xcel’s request to raise interim rates again next year, which would have increased residential customers’ bills another 6 percent.
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