Xcel Energy Requests Rate Hike, Plans to Hold Public Hearings

Updated: 06/22/2014 3:50 PM KSTP.com By: Cassie Hart

Photo: KSTP/File
Photo: KSTP/File

Xcel Energy has asked the Minnesota Public Utilities Commission (MPUC) for a two year increase in electricity rates.

For 2014, the requested increase is for $192.7 million, or about 6.9 percent. For 2015, the requested increase is for $98.5 million, or about 3.5 percent. The total increase for the two year proposal is $291.2 million, or about 10.4 percent.

The MPUC will evaluate the request and will make its decision in 2015.

If final rates are lower than interim rates set by the MPUC and effective on January 3, 2014, Xcel will refund customers the difference with interest, according to a rate hike notice.

If final rates are higher than interim rates, Xcel will not charge customers the difference.

Public hearings will be held across the metro starting this week. Get a schedule and more information on the proposal here.