Minnesota agencies oppose $122M Xcel rate increase for 2023
December 6, 2022
Xcel Energy's request to raise residential electricity bills another 6% is being roundly opposed by ratepayer advocates - including two state agencies - who say Minnesotans are already reeling from energy price inflation.
The matter will come to a head Tuesday when the Minnesota Public Utilities Commission (PUC) is slated to weigh Xcel's request for a $122 million interim rate hike for 2023. Minneapolis-based Xcel is by far Minnesota's largest electricity provider, serving 1.3 million customers.
Seeing fierce opposition, Xcel recently filed a complicated alternative plan with the PUC that would reduce its interim rate request to $68 million or eliminate it altogether. The plan centers on changes in accounting for certain costs and revenues.