Advertisement

Xcel Energy requests electric rate hike of about 20%

Xcel Energy
Xcel Energy(KTTC)
Published: Oct. 27, 2021 at 8:56 AM CDT
Email This Link
Share on Pinterest
Share on LinkedIn

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.

Copyright 2021 KTTC. All rights reserved.