Minnesota agencies oppose $122M Xcel rate increase for 2023


December 6, 2022

Glen Stubbe, Star Tribune file

Xcel Energy's Sherco power generation plant in Becker, Minn.

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.



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