Xcel Energy requests electric rate hike of about 20%
(AP) - Xcel Energy wants to increase its electricity rate 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.