Xcel Energy seeks electric rate hike of about 20%

MINNEAPOLIS – Xcel Energy wants to increase electric rates by about 20% over the next three years, adding an average $15 to $21 per month cumulatively to residential customers’ bills.

Minneapolis-based Xcel filed its request with the Minnesota Public Utilities Commission, which must approve any increase.

The rate hike would generate about $677 million over the three years with a big portion directed to building out transmission lines to connect to renewable power sources.

Xcel has 1.3 million electrical customers.

Categories: Local News, Minnesota News