Xcel withdraws general rate increase request, customers will see smaller increase in 2020

Published December 17, 2019 In November, Xcel requested permission to raise rates an average of 15.2% over three years. However, the utility agreed to withdraw its rate increase request last week. Instead, the Public Utilities Commission approved smaller increases to "true up" financial projections. Writing for the Star Tribune, Mike Hughlett reports:

Xcel said that costs to ratepayers in 2021 for the sales true-ups would be an estimated $94 million, PUC records show. That’s below the $122 million — or 4.1% — interim rate increase for 2020 that Xcel had requested as part of its rate case.

The Public Utilities Commission last week approved the true-ups in exchange for Xcel agreeing to withdraw its rate increase request. For more information, I recommend the Star Tribune article. You can prepare for higher bills:

• Find opportunities to save money by cutting energy waste in your home and taking advantage of utility or state programs for which your home qualifies. Our website includes energy efficiency tips, links to relevant programs, and more information.
• Contact us (651-300-4701 or info@cubminnesota.org) for an individualized consultation on your gas and electricity bills.
• Stay tuned for more information and opportunities to make public comments in this case.