Xcel wants to increase Minnesota residential electricity bills by nearly 20%
October 26, 2021
Xcel Energy on Monday proposed an electricity rate increase of 21.2%, or $677.4 million, over three years, with just more than half hitting Minnesotans' pocketbooks in 2022.
With the rate hike, the company's average residential customers would see a 19% increase in their electricity bills from 2022 through 2024 - or on average $15 to $21 per month cumulatively.
"This is a pretty straightforward rate case," said Chris Clark, Xcel's president for Minnesota and the Dakotas. "It's really focused on the poles and wires part of our business and making the necessary infrastructure investments."