Xcel seeks 9.8 percent electric rate hike in Minnesota over three years

Electric bills of Xcel Energy customers in Minnesota are going up — again.

The state’s largest power company on Monday requested a 9.8 percent electric rate hike phased in over three years. By 2018, a typical electric customer’s annual electric charges would be $132 higher if state regulators approve the increase.

Xcel’s 1.2 million Minnesota electric customers face an almost-certain interim rate hike of 5.5 percent in January, or about $60 per year, plus a smaller bump in 2017, bringing the total to 7 percent. Interim rate hikes are almost always approved but are subject to refund if the final authorized increase is less.

http://www.startribune.com/xcel-seeks-9-8-percent-electric-rate-hike-in-minnesota-over-three-years/339457901/