Xcel Energy Seeks To Hike Electricity Rates By About 20%
MINNEAPOLIS (AP) -- Xcel Energy wants to increase its electricity rate by about 20% over the next three years, adding an average $15 to $21 per month cumulatively to residential customers' bills.
Minneapolis-based Xcel filed its request with the Minnesota Public Utilities Commission, which must approve any increase.
The rate hike would generate about $677 million over the three years with a big portion directed to building out transmission lines to connect to renewable power sources.
Xcel has 1.3 million electrical customers.
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