Xcel Energy rate increases approved by public utilities commission
Xcel, CenterPoint proposing rate increases in MN
Xcel Energy and CenterPoint are proposing more rate increases in Minnesota, with Xcel requesting a 9.6% rate increase for 2025. FOX 9's Bill Keller has the story.
(FOX 9) - Minnesota’s Public Utilities Commission (PUC) has approved electricity rate increases for Xcel Energy customers throughout the state.
Xcel energy rate increases
What we know:
On Thursday, the PUC issued a verbal decision on Xcel’s request for an electric rate increase.
The decision will allow Xcel to collect about 5.8% more from its Minnesota customers.
As part of its decision, the PUC granted a request by the Citizens Utility Board (CUB) to limit Xcel’s electric late fees and reconnection fees.
Currently, Xcel applies a charge of 1.5% per month to customers’ past-due balances. The PUC adopted CUB’s recommendation to reduce late fees to 0.45% per month, equal to Xcel’s cost of carrying customers’ utility debt, and will waive the fees entirely for low-income customers.
Low-income customers whose service has been disconnected for nonpayment will no longer be charged an additional fee to reconnect service.
Big picture view:
Xcel has similarly proposed rate increases for gas usage from its customers, asking for an additional 9.6% to 10.65%.
The PUC says it plans to review the settlement this fall, with a final decision still pending.
The Source: Information provided by the Minnesota Public Utilities Commission and previous FOX 9 reporting.