Watch CBS News

Minnesota Regulators OK Rate Hikes For Xcel Energy Customers

ST. PAUL, Minn. (AP) — Minnesota regulators have signed off on higher electric and natural gas prices for Xcel Energy residential customers.

The state Public Service Commission issued a news release Thursday saying the utility had asked to increase electric rates by 9.4% and natural gas rates by 4.9%. The commission said it has approved an interim electric rate increase of 6.4% and an interim natural gas rate increase of 3.9%. All told, the interim increases will translate to $5.54 more a month for average electric customers and 60 cents more a month for average gas customers.

Xcel wants to raise electric rates by 21.2% and natural gas rates by 6.6%. The commission expects to make final decisions on those requests in 2023. State law authorizes public utilities to recover interim rates while the panel evaluates a full rate request.

(© Copyright 2021 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.