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Business and Economic News
The Associated Press

Minnesota regulators OK rate hikes for Xcel customers

Power lines arc across the sky in front of autumn foliage.
Power lines carry energy near Red Wing, Minn., in 2019. Minnesota regulators have signed off on higher electric and natural gas prices for Xcel Energy residential customers.
Evan Frost | MPR News 2019

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Minnesota regulators have signed off on higher electric and natural gas prices for Xcel Energy residential customers.

The state Public Service Commission issued a news release Thursday saying the utility had asked to increase electric rates by 9.4 percent and natural gas rates by 4.9 percent.

The commission said it has approved an interim electric rate increase of 6.4 percent and an interim natural gas rate increase of 3.9 percent. All told, the interim increases will translate to $5.54 more a month for average electric customers and 60 cents more a month for average gas customers.

Xcel wants to raise electric rates by 21.2 percent and natural gas rates by 6.6 percent. The commission expects to make final decisions on those requests in 2023. State law authorizes public utilities to recover interim rates while the panel evaluates a full rate request.